Avnet boosts buybacks by $500 million, lifts dividend [MarketWatch]
Avnet, Inc. (AVT)
Last avnet, inc. earnings: 4/27 04:05 pm
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Source: MarketWatch
Avnet boosts buybacks by $500 million, lifts dividend Avnet Inc. AVT, +0.29% said Wednesday it added $500 million to its share repurchase program, and increased its quarterly dividend by 5.3%. The electronic components company's stock was still inactive in premarket trade. Avnet said it now has $722 million available for stock buybacks. Based on Tuesday's stock closing price of $48.62, the company could repurchase 14.85 million shares, or about 12.8% of the shares outstanding. The new quarterly dividend of 20 cents a share, up from 19 cents, will be payable Sept. 20 to shareholders of record on Sept. 10. The new annual dividend rate implies a dividend yield of 1.65%, compared with the S&P 500's SPX, +0.11% implied yield of 1.87%. Avnet shares have rallied 22.7% year to date, while the Dow Jones Industrial Average DJIA, -0.07% has gained 5.4%. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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News
- Panasas Signs Worldwide Manufacturing and Fulfillment Partnership with Avnet [Yahoo! Finance]Yahoo! Finance
- Panasas Signs Worldwide Manufacturing and Fulfillment Partnership with AvnetBusiness Wire
- Avnet to Report Third Quarter Fiscal Year 2024 Earnings on May 1Business Wire
- Avnet (AVT) Up 2.7% Since Last Earnings Report: Can It Continue? [Yahoo! Finance]Yahoo! Finance
- Avnet to Participate in the Raymond James Institutional Investors Conference on March 4Business Wire
AVT
Earnings
- 1/31/24 - Beat
AVT
Sec Filings
- 4/2/24 - Form 4
- 3/21/24 - Form 4
- 3/21/24 - Form 4
- AVT's page on the SEC website