Recent Updates — CDW
The Board of Directors of CDW Corporation increased the number of directors from nine to ten and appointed Saranga (Sam) Balaji to serve on the Board, effective October 15, 2026. Mr. Balaji will serve on the Audit Committee and is considered independent under Nasdaq listing standards. He brings over three decades of experience in technology, advisory, and global business leadership, most recently serving as Global Chief Executive Officer of Consulting & Advisory at Deloitte. CDW operates as a strategic end-to-end technology partner providing IT solutions to organizations across various sectors.
CDW LLC and CDW Finance Corporation completed the sale of $1.5 billion in aggregate principal amount of Senior Notes on September 21, 2026. The issuance includes $600 million of 5.700% notes due 2029 at 99.908%, $500 million of 6.100% notes due 2032 at par, and $400 million of 6.350% notes due 2033 at 99.805%. CDW Corporation provides the unsecured senior guarantee for these obligations. This debt financing is material as it significantly alters the company's capital structure and interest expense profile. CDW Corp operates in the technology distribution industry, providing IT products and services to businesses.
CDW Corp filed an 8-K on September 14, 2026, announcing the entry into an underwriting agreement for a registered public offering of $1.5 billion in aggregate principal amount of senior notes. The Co-Issuers, CDW LLC and CDW Finance Corporation, with CDW Corp as guarantor, agreed to sell $600 million of 5.700% Senior Notes due 2029, $500 million of 6.100% Senior Notes due 2032, and $400 million of 6.350% Senior Notes due 2033 to underwriters including BofA Securities, J.P. Morgan, Mizuho, and Wells Fargo. The offering is expected to close on September 21, 2026, subject to customary conditions. CDW Corp operates in the technology distribution industry.
CDW Corporation announced that Albert J. Miralles, its Chief Financial Officer and Executive Vice President, intends to retire in March 2027 following an orderly transition. Mr. Miralles will remain in his current role until a successor is appointed, after which he will serve as Executive Advisor through March 31, 2028, focusing on growth strategy, investor relations, M&A, and leadership development. His base salary during the advisory period will be $60,000 annually with no cash incentive or long-term equity awards. CDW Corporation is a leading multi-brand provider of information technology solutions to business, government, education, and healthcare customers.
CDW Corporation reported second quarter 2026 financial results, posting net sales of $6.57 billion, a 10.0 percent increase from the prior year period. Gross profit rose 6.3 percent to $1.32 billion with a margin of 20.1 percent, while operating income increased 2.0 percent to $429 million. Net income per diluted share grew 5.1 percent to $2.15. Concurrently, the Board declared a quarterly cash dividend of $0.630 per common share, payable on September 10, 2026, to shareholders of record as of August 25, 2026. CDW Corporation is a leading multi-brand provider of information technology solutions to business, government, education, and healthcare customers.
CDW Corporation's 2026 Annual Meeting of Stockholders resulted in the approval of an amendment to the Certificate of Incorporation to permit stockholder action by written consent and the ratification of Ernst & Young LLP as the independent auditor. Shareholders also elected nine directors and approved executive compensation, while rejecting a proposal regarding independent board chair requirements.