Avnet, Inc. (NYSE:AVT) Announces $0.21 Quarterly Dividend

Avnet, Inc. (NYSE:AVT) declared a quarterly dividend on Thursday, November 19th, Wall Street Journal reports. Shareholders of record on Wednesday, December 2nd will be given a dividend of 0.21 per share by the technology company on Wednesday, December 16th. This represents a $0.84 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Tuesday, December 1st.

Avnet has increased its dividend payment by 20.6% over the last three years and has raised its dividend annually for the last 2 consecutive years.

NYSE:AVT opened at $28.82 on Friday. The company has a fifty day simple moving average of $27.31 and a two-hundred day simple moving average of $27.38. Avnet has a 52 week low of $17.85 and a 52 week high of $43.00.

Avnet (NYSE:AVT) last posted its quarterly earnings results on Wednesday, October 28th. The technology company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.24.

Several research firms have commented on AVT. TheStreet upgraded shares of Avnet from a “d+” rating to a “c-” rating in a research note on Thursday, September 17th. Wells Fargo & Company dropped their price target on shares of Avnet from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, October 29th. Raymond James decreased their price objective on shares of Avnet from $44.00 to $35.00 and set a “strong-buy” rating for the company in a research report on Friday, August 7th. Finally, Longbow Research raised shares of Avnet from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $31.33.

About Avnet

Avnet, Inc, a technology solutions company, markets, sells, and distributes electronic components. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical devices; and other integrated components from electronic component manufacturers.

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Dividend History for Avnet (NYSE:AVT)

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