SYNNEX Corporation (SNX) will start paying a quarterly dividend again. The first dividend declared is $0.20 per share. In 2020 the provider of distribution, systems design and integration services for the technology industry suspended its quarterly dividend, ending 6 consecutive years of higher dividends.

The dividend is payable on January 29, 2021 to stockholders of record as of the close of business on January 22, 2021. The SYNNEX Board of Directors will assess the dividend on an annual basis each January. 

A new annual dividend rate of 80 cents per share will yield 0.9% at a stock price of $85.69. The annual dividend payment to shareholders is now an estimated $41 million based on calculations by dividendhike.com. 

SYNNEX Corporation is a business process services company, providing distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy to a broad range of enterprises. Founded in 1980, SYNNEX Corporation has operations in North and South America, Asia-Pacific and Europe. In 1994 the company changed its name from Compac to SYNNEX (SYNNEX = Synergy + Nexus) and in 2003 SYNNEX became a public company through its Initial Public Offering on the New York Stock Exchange.