Dicker Data Ltd shares now provide a 5.6% dividend yield

In afternoon trade the Dicker Data Ltd (ASX: DDR) share price is up over 2% to $3.00 following the release of an update on its final dividend and business performance in FY 2017.

According to the release, the wholesale distributor of computer hardware and software revealed unaudited full-year revenue of $1,306 million, slightly ahead of its $1,300 million guidance and 10.2% higher than a year earlier.

It was a similar story for its pre-tax profit result of $40.2 million. This was slightly ahead of its $40 million guidance and an increase of 9.9% on FY 2016’s results.

In light of this strong performance, the company has declared a fully franked final dividend of 4.8 cents per share. This brought its full-year dividend to 16.8 cents per share, an increase of 0.85 cents on FY 2016’s 15.95 cents per share dividend.

At the current share price this means Dicker Data’s shares provide a trailing fully franked 5.6% yield, putting it well ahead of the market-average of 3.4%. With a yield as generous as this, it is little wonder Dicker Data is a favourite with income investors.

The company will release its audited results in full on February 28.

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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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