TD SYNNEX Corporation (NYSE:SNX) Announces Quarterly Dividend of $0.48

TD SYNNEX Corporation (NYSE:SNX) declared a quarterly dividend on Tuesday, March 31st. Stockholders of record on Wednesday, April 15th will be paid a dividend of 0.48 per share by the business services provider on Wednesday, April 29th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, April 15th.

TD SYNNEX has increased its dividend payment by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. TD SYNNEX has a dividend payout ratio of 14.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TD SYNNEX to earn $13.62 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 14.1%.

TD SYNNEX Stock Up 5.3%

Shares of NYSE:SNX opened at $168.65 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.21 and a quick ratio of 0.75. The stock has a market cap of $13.60 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 1.15 and a beta of 1.37. The company has a 50 day moving average of $159.18 and a 200-day moving average of $155.29. TD SYNNEX has a one year low of $92.23 and a one year high of $175.56.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $1.49. The firm had revenue of $17.16 billion for the quarter, compared to analysts’ expectations of $15.59 billion. TD SYNNEX had a net margin of 1.32% and a return on equity of 12.60%. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the firm earned $2.80 earnings per share. On average, sell-side analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current year.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 23,365 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $160.63, for a total transaction of $3,753,119.95. Following the sale, the director directly owned 42,515 shares in the company, valued at approximately $6,829,184.45. This trade represents a 35.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Patrick Zammit sold 13,900 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $171.57, for a total transaction of $2,384,823.00. Following the completion of the transaction, the chief executive officer owned 170,928 shares of the company’s stock, valued at $29,326,116.96. This trade represents a 7.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 80,915 shares of company stock valued at $13,111,786 over the last 90 days. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC lifted its holdings in shares of TD SYNNEX by 25.3% in the fourth quarter. Virtu Financial LLC now owns 2,008 shares of the business services provider’s stock valued at $302,000 after purchasing an additional 405 shares in the last quarter. Invesco Ltd. grew its holdings in shares of TD SYNNEX by 5.3% during the fourth quarter. Invesco Ltd. now owns 741,328 shares of the business services provider’s stock worth $111,370,000 after buying an additional 37,305 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in TD SYNNEX by 230.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,490 shares of the business services provider’s stock valued at $975,000 after buying an additional 4,526 shares during the last quarter. Vident Advisory LLC lifted its stake in TD SYNNEX by 28.2% in the 4th quarter. Vident Advisory LLC now owns 34,926 shares of the business services provider’s stock valued at $5,247,000 after acquiring an additional 7,687 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in TD SYNNEX during the 4th quarter worth approximately $760,000. 84.00% of the stock is owned by institutional investors and hedge funds.

About TD SYNNEX

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.