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

TD SYNNEX Corporation (NYSE:SNX) announced a quarterly dividend on Tuesday, March 31st. Shareholders 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) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, April 15th.

TD SYNNEX has raised its dividend payment by an average of 0.3%annually 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. Equities 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 Price Performance

SNX stock traded up $8.52 during mid-day trading on Tuesday, hitting $168.65. The stock had a trading volume of 2,288,587 shares, compared to its average volume of 770,084. The firm has a fifty day simple moving average of $158.73 and a 200 day simple moving average of $155.17. The firm has a market capitalization of $13.60 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.13 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. TD SYNNEX has a 52 week low of $92.23 and a 52 week high of $175.56.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. The company had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $15.59 billion. TD SYNNEX had a net margin of 1.32% and a return on equity of 12.60%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.80 EPS. As a group, research analysts forecast that TD SYNNEX will post 11.88 EPS for the current year.

Insider Activity

In other TD SYNNEX news, CEO Patrick Zammit sold 13,900 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $171.57, for a total value 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 represents a 7.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard T. Hume sold 25,000 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $160.67, for a total value of $4,016,750.00. Following the completion of the transaction, the director owned 47,515 shares of the company’s stock, valued at $7,634,235.05. This represents a 34.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 80,915 shares of company stock worth $13,111,786. Insiders own 0.70% of the company’s stock.

Institutional Trading of TD SYNNEX

Several hedge funds and other institutional investors have recently made changes to their positions in SNX. Parcion Private Wealth LLC boosted its position in shares of TD SYNNEX by 0.4% in the third quarter. Parcion Private Wealth LLC now owns 15,189 shares of the business services provider’s stock valued at $2,487,000 after acquiring an additional 68 shares during the period. Cornerstone Wealth Management LLC increased its holdings in TD SYNNEX by 3.8% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 1,895 shares of the business services provider’s stock worth $310,000 after acquiring an additional 69 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in TD SYNNEX by 3.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider’s stock worth $317,000 after acquiring an additional 71 shares during the period. Quadrant Capital Group LLC lifted its stake in TD SYNNEX by 1.0% in the 4th quarter. Quadrant Capital Group LLC now owns 7,588 shares of the business services provider’s stock worth $1,140,000 after purchasing an additional 73 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in TD SYNNEX by 10.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 775 shares of the business services provider’s stock worth $127,000 after purchasing an additional 74 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

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.