On November 22, 2022, PC Connection, Inc. (CNXN) announced that it will pay a special dividend of $0.34 per share. Last year a $1.00 per share special dividend was paid by the information technology solutions provider to business, government, and education markets. PC Connection does not pay a regular dividend.
The special cash dividend of $0.34 per share payable on December 23, 2022, to shareholders of record at the close of business on December 5, 2022. The aggregate amount of the special dividend payment will be approximately $8.9 million based on the current number of shares outstanding.
“Our strong balance sheet and operating performance allows us to pay this dividend, which is in line with our historic pre-pandemic practice while maintaining the ability to continue to grow the business,” said Timothy McGrath, President and Chief Executive Officer.
PC Connection is a provider of information technology solutions to business, government, and education markets. Connection delivers custom-configured computer systems overnight from its ISO 9001:2015 certified technical configuration lab at its distribution center in Wilmington, OH. In addition, the Company has over 2,500 technical certifications to ensure that it can solve the most complex issues of its customers. Connection also services international customers through its GlobalServe subsidiary, a global IT procurement and service management company.