Avnet Inc (NASDAQ: AVT), a global technology distributor and solutions provider, said on Thursday that its Board of Directors had authorized a regular quarterly cash dividend of $0.33 per share of common stock.

The dividend was kept unchanged from the previous quarterly dividend payment.

The dividend will be paid on December 18th to shareholders of record as of the close of business on December 4th 2024, the company said.

Stock Performance

The shares of Avnet Inc (AVT) closed 1.53% ($0.81) higher at $53.73 on Nasdaq on Thursday, as they extended the gain from the previous market session.

The stock has rebounded from a two-month low of $51.78, which it registered on Wednesday.

The company’s total market cap now stands at $4.671 billion.

The shares of Avnet Inc (AVT) went up 21.21% in 2023, compared with a 43.42% gain for the benchmark index, Nasdaq Composite (IXIC).

The company’s shares have risen 6.61% so far this year.

Analyst stock price forecast and recommendation

According to TipRanks, at least 3 out of 4 surveyed investment analysts had rated Avnet Inc’s stock as “Hold”, while 1 – as “Sell”. The median price target on the stock stands at $54.00, which translates into a 0.50% upside compared to the closing price on Thursday.

The high point of the analyst forecast range stands at $58.00.

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