The Dicker Data Ltd (ASX: DDR) share price is enjoying a fresh record high on Thursday. This comes after the IT distributor announced its third-biggest quarterly dividend to investors.
During late afternoon trade, Dicker Data shares hit an all-time high of $14.97. However, some profit-taking has occurred, slightly pulling the shares back to $14.94, up 0.40%.
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Dicker Data maintains strong dividend payout
Investors appear pleased with the company's performance of late, sending Dicker Data shares 35% higher in a month.
In its release, Dicker Data declared a fully-franked dividend payment of 9 cents per share to be paid to shareholders.
It's worth noting that the company pays dividends every 3 months instead of a semiannual basis like most other dividend-paying ASX businesses.
The largest and second-largest dividends from Dicker Data came in its FY20 results (10.5 cents) and FY19 results (13 cents).
The strong dividend payout means that Dicker Data has rewarded its investors with a total yearly dividend of 34.5 cents. Based on the current share price, this represents a trailing dividend yield of 2.3%.
The latest record date for the dividend falls on 18 August, with payment following on 1 September 2021.
Just last week, Dicker Data completed the acquisition of the second-largest IT distributor in New Zealand, Exeed Group.
The $68 million purchase is expected to provide Dicker Data with a platform to take on the biggest IT distributor in the country, Ingram Micro.
Dicker Data revealed it will use a mix of local market knowledge and access to its large range of brands. It estimates that its combined New Zealand businesses will have a revenue turnover of about $500 million.
Dicker Data share price snapshot
Over the last 12 months, Dicker Data shares have accelerated by more than 100%, with year-to-date gains of 39%.
On valuation grounds, Dicker Data commands a market capitalisation of roughly $2.5 billion, with more than 172 million shares outstanding.
