CLMB Announces Dividend of $0.17

Climb Global Solutions, a cloud-based IT distribution and solutions company, announced on February 27, 2024, that its board of directors declared a regular quarterly dividend of $0.17 per share ($0.68 annualized). Shareholders must purchase shares before the ex-dividend date of March 8, 2024, to qualify for the dividend, with payments scheduled for March 15, 2024.

At the current share price of $66.91, the stock’s dividend yield is 1.02%. Looking back over the past five years, the average dividend yield has been 1.53%, with a low of 1.01% and a high of 2.20%. The company’s current dividend yield is 1.80 standard deviations below the historical average.

Additionally, Climb Global Solutions has a dividend payout ratio of 0.24, indicating that only 24% of the company’s income is paid out in dividends. The company has not increased its dividend in the last three years.

Analyst price forecasts suggest a 26.83% downside for Climb Global Solutions, with an average one-year price target of $48.96. The company’s projected annual revenue is 357MM, representing a 1.39% increase, with a projected non-GAAP EPS of 4.22.

In terms of shareholder activity, Cove Street Capital, Renaissance Technologies, Punch & Associates Investment Management, Tieton Capital Management, and Vanguard Total Stock Market Index Fund Investor Shares have all made changes to their holdings in Climb Global Solutions over the last quarter.

Overall, Climb Global Solutions continues to navigate the market with its dividend strategy and shareholder activity, providing insights into the company’s financial health and investor sentiment.