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CDW Holdings brings forward dividend 'to support shareholders' amid Covid-19
CDW Holdings said on Friday that it will pay out a second interim dividend of S$0.007 per share in lieu of the final dividend of US$0.007 per share proposed for 2019.
This means that shareholders will get their payouts on June 22, instead of having to wait till after the company's annual general meeting (AGM).
The payment of an interim dividend only requires the board’s approval and does not require shareholders’ approval under the company’s by-laws.
CDW has received approval from the Singapore Exchange to postpone its AGM to a date on or before June 30, due to disruptions caused by Covid-19.
The group said: "Given the economic uncertainty surrounding the global Covid-19 pandemic, the board is of the view that it is in the best interests of the shareholders to have the dividend distributed... as soon as possible to... provide some support to them during this difficult period."
CDW shares rose 0.9 Singapore cent or 6.92 per cent to S$0.139 on Friday.