Avnet, Inc. (AVT), a prominent global technology distributor and solutions company, has recently shared some positive news for its investors. The company's Board of Directors has given the green light to a substantial 7% increase in its quarterly cash dividend. This upward adjustment brings the dividend payout to an attractive $0.31 per share. Avnet enthusiasts can look forward to reaping the benefits of this dividend increase in the near future.

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A Win for Shareholders: Mark Your Calendars

Investors in Avnet will want to mark their calendars for this upcoming financial boon. The boosted dividend is scheduled to be disbursed on September 27, 2023. To qualify for this dividend increase, shareholders should ensure they are officially registered by the close of business on September 13, 2023. By setting these dates, Avnet is aiming to ensure that all eligible investors can take advantage of the enhanced dividend payout.

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Avnet's Commitment to Shareholder Value

Phil Gallagher, the Chief Executive Officer of Avnet, expressed his enthusiasm for this dividend increase. He stated, "We are pleased to announce an increase in our quarterly dividend, furthering our commitment to delivering sustainable shareholder returns as part of our capital allocation strategy." This move reflects Avnet's dedication to not only driving growth and value but also ensuring that its shareholders are well-rewarded for their investments.

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Performance and Confidence in the Future

The decision to amplify the dividend comes on the heels of a remarkable earnings-per-share (EPS) performance during Avnet's 2023 fiscal year. This strong showing has bolstered the company's confidence in its financial stability and its potential to continue on a trajectory of growth. As the global tech landscape evolves, Avnet stands firm in its belief that it can continue to create value and prosperity for all stakeholders involved.