Anixter International Declares $5.00/Share Special Dividend

Anixter InternationalAXE today announced that its board of directors declared the payment of a special dividend to shareholders of $5 per common share, or a total cash outlay of approximately $165 million. The special dividend is payable on January 2, 2014, to shareholders of record on December 11, 2013. Commenting on the special dividend payment, President and CEO Robert Eck said, “Our continued strong cash flow generation of nearly $500 million over the past three years has resulted in a debt to total capital ratio of 43 percent at the end of the third quarter, which falls below our target range of 45–50 percent. This presented us with the opportunity to return capital to our shareholders while still See full press release