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

TD SYNNEX Corporation (NYSE:SNX) declared a quarterly dividend on Thursday, January 8th. Investors of record on Friday, January 16th will be given a dividend of 0.48 per share by the business services provider on Friday, January 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, January 16th. This is a 9.1% increase from TD SYNNEX’s previous quarterly dividend of $0.44.

TD SYNNEX has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 5 years. TD SYNNEX has a dividend payout ratio of 13.2% meaning its dividend is sufficiently covered by earnings. Equities 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 $1.76 annual dividend with an expected future payout ratio of 12.9%.

TD SYNNEX Stock Down 2.4%

SNX traded down $3.57 on Thursday, hitting $147.43. 1,854,655 shares of the company were exchanged, compared to its average volume of 1,137,524. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 1.20. The stock’s fifty day moving average is $152.01 and its 200-day moving average is $149.74. The company has a market cap of $12.01 billion, a PE ratio of 15.99, a PEG ratio of 1.04 and a beta of 1.37. TD SYNNEX has a 12 month low of $92.23 and a 12 month high of $167.76.

Analyst Ratings Changes

SNX has been the subject of a number of research reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of TD SYNNEX in a report on Monday, December 22nd. Morgan Stanley cut their price target on shares of TD SYNNEX from $181.00 to $177.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Barclays increased their price target on TD SYNNEX from $140.00 to $164.00 and gave the company an “equal weight” rating in a research note on Friday, September 26th. Weiss Ratings restated a “buy (b-)” rating on shares of TD SYNNEX in a research report on Wednesday, October 8th. Finally, Zacks Research lowered TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $169.18.

TD SYNNEX Company Profile

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.