Avnet hikes dividend for 11th consecutive year

9.5% CAGR and 2.3% dividend yield

Avnet (Ticker: AVT), a leading global distributor of electronic components, has announced a notable increase in its dividend payout for 2024. The company's board has approved a dividend hike of 6.50%, continuing its track record of rewarding shareholders with consistent dividend growth.

Currently, Avnet offers a dividend yield of 2.3%, with a total return of 8.9%. The company has a market capitalization of $5 billion and has maintained an impressive 5-year compound annual growth rate (CAGR) of 9.5%. Since initiating dividend payments in 2013, Avnet has demonstrated a solid commitment to returning value to its shareholders.

The 2024 dividend increase follows a series of previous hikes, including 6.90% in 2023, 20.83% in 2022, and 14.29% in 2021. This marks the 11th consecutive year of dividend hikes, underscoring Avnet's robust financial health and its ongoing dedication to shareholder returns.

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