CDW Corp (NASDAQ:CDW) reported fourth quarter 2017 results. The firm also reported the approval by its Board of a quarterly cash payout to be distributed in March 2018. Thomas E. Richards, the CEO and Chairman, expressed that as they have throughout the year, they recorded robust topline growth with exceptional profitability in Q4 2017, once again showcasing the combined power of their nimble business model, balanced consumer end-markets and broad product portfolio. The last year performance continues to demonstrate the success of investments that the company has made in its three-part strategy.
Collin B. Kebo, the Chief Financial Officer of CDW, expressed that remarkable operating performace throughout the year led excellent cash flows and allowed them to return almost $650 million to their shareholders in 2017 through dividends and share repurchases. With their free cash flow supported by the decline in their effective tax rate, they have increased their rule of thumb for free cash flow as a fraction of sales by as much as 75 basis points.
Richards expressed that for 2018, they project to continue to surpass US IT market increase by 200 basis points to 300 basis points. Operating data will be amplified by the decline in their corporate tax price from the 2017 Tax Cuts & Jobs Act and they project to record non-GAAP net income a share growth in the low- to mid-20% range. They plan to re-invest a part of the incremental cash flow into their coworkers and their strategic measures, and continue to follow against their capital allocation priorities.
CDW reported distribution of a quarterly cash payout of $0.21 a share, which is 31% higher than the previous year period, will be compensated on March 12, 2018 to all shareholders of record date as of the close of February 26, 2018.