Avnet raises quarterly dividend 7% to 31c per share

Avnet announced that its Board of Directors has approved a 7% increase in the quarterly cash dividend to 31c per share. The dividend will be paid on September 27, 2023 to shareholders of record as of the close of business on September 13, 2023. “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,” said Avnet Chief Executive Officer Phil Gallagher. “This increase follows a record EPS performance in our 2023 fiscal year and is a reflection of our confidence in our financial position and ability to drive continued growth and value creation for Avnet stakeholders.”