Systemax (SYX) will pay a special cash dividend of $6.50 per share in January. This is the company's second special dividend declared in 2018.

The special dividend will be payable on January 3, 2019 to shareholders of record as of the close of business on December 24, 2018.

Richard Leeds, Executive Chairman, said, "The return of capital to shareholders through this special dividend reflects the continued strong performance and cash flow generation of our industrial products business and the sale of our France operations, which generated gross proceeds of $270 million earlier this year. With a strong balance sheet which included over $300 million in cash at the end of the third quarter, and an undrawn $75 million credit facility, we will retain significant financial flexibility to execute on our organic growth strategy and actively seek strategic M&A."

The regular annual dividend rate of 44 cents per share yields 1.5% at a stock price of $29.76 for Systemax.

Systemax Inc. is a direct marketer of brand name and private label products. The company sells maintenance, repair and operational products in North America and offers a selection of products that are manufactured for its own design and marketed under the trademarks: Global, GlobalIndustrial.com, Nexel Relius, Paramount and Interion. Its Consumer Electronics products include television and video; audio; cameras and surveillance; Global Positioning System (GPS); cell phones; video games, and home and electronics accessories.