Market Overview

Avnet Expands Share Repurchase Authorization by $500 Million; Increases Dividend by 5.3% to $0.20 per Share

Share:

Avnet (Nasdaq: AVT),
a leading global technology solutions provider, today announced that the
Board of Directors approved an expansion of the company's current share
repurchase authorization by $500 million. Avnet now has $722 million
available for share repurchases when combined with prior authorizations.

In addition, Avnet's Board of Directors approved a 5.3% increase in the
quarterly cash dividend to $0.20 per share. The dividend will be paid
on September 20, 2018 to shareholders of record as of the close of
business on September 10, 2018.

Chief Executive Officer Bill Amelio commented, "The Board's decision to
expand our share repurchase program and increase Avnet's dividend sends
a strong positive signal to the investment community. These actions
underscore Avnet's commitment to create and deliver increased value to
shareholders in the short term, while providing confidence that we're
successfully driving toward our longer-term growth goals."

The company may repurchase shares from time to time at the discretion of
management in open market, privately negotiated transactions, or
otherwise – subject to applicable laws, regulations and approvals,
strategic considerations, market conditions and other factors. The
company may terminate or limit the share repurchase program at any time
without prior notice.

About Avnet

From idea to design and from prototype to production, Avnet supports
customers at each stage of a product's lifecycle. A comprehensive
portfolio of design and supply chain services makes Avnet the go-to
guide for innovators who set the pace for technological change. For
nearly a century, Avnet has helped its customers and suppliers around
the world realize the transformative possibilities of technology. Learn
more about Avnet at www.Avnet.com.
(AVT_IR)

Visit the Avnet Investor Relations website at ir.avnet.com or
contact us at investorrelations@avnet.com.

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