Avnet (AVT) will raise its quarterly dividend by another 5.3 percent to $0.20 per share in the third quarter of 2018. 

The increase is in addition to Avnet's previously announced increase of $0.01 in the common quarterly dividend in the first quarter.

The dividend will be paid on September 20, 2018 to shareholders of record as of the close of business on September 10, 2018. The new annual dividend of $0.80 per share yields 1.6% at at stock price of $48.94.

Chief Executive Officer Bill Amelio commented, “The Board’s decision to expand our share repurchase program and increase Avnet’s dividend sends a strong positive signal to the investment community. These actions underscore Avnet’s commitment to create and deliver increased value to shareholders in the short term, while providing confidence that we’re successfully driving toward our longer-term growth goals.”

Avnet, Inc. is a technology solutions company. Avnet's two primary operating groups are Electronic Components (EC) and Farnell. Both have operations in the Americas, Europe, Middle East and Africa and Asia/Pacific. Electronic Components markets, sells and distributes electronic components including semiconductors, interconnect, passive and electromechanical components and other integrated components. EC serves a variety of markets ranging from automotive to medical to defense and aerospace. Farnell distributes kits, tools, electronic components and industrial automation components, as well as test and measurement products to both engineers and entrepreneurs. Avnet was founded in 1921 and incorporated in New York in 1955.