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Anixter returns 65% of operating cash to shareholders over five years
By Lisa Kerner
Charlotte, N.C., March 21 - Anixter International Inc. has returned about 65% of its $1.1 billion of operating cash shareholders over the last five years, according to chief financial officer Ted Dosch.
Dosch made his comments during a presentation at the 2013 BB&T Capital Markets Commercial & Industrial Conference in Coral Gables, Fla., on Thursday.
"Even though we are not a regular dividend payer, we have a pretty strong history of returning value to our shareholders," said Dosch, noting that the value was a combination of share buybacks and special dividends.
"We prefer to keep it that way; we prefer to be a little opportunistic."
In fiscal year 2012, the company returned $210 million to investors, according to the presentation materials.
"We generated some significant cash flow, over $140 million last year, which allowed us to continue our very shareholder-friendly trends where we paid a special dividend of about $6.50 a share as well as repurchased one million shares of stock last year," said Dosch.
Q4 and full-year 2012 were record sales years for us, really fueled by our electrical and electronic wire and cable business."
In the fourth quarter, the wire and cable segment reported sales of $544 million and an organic growth rate of 9%.
Anixter's fourth-quarter sales were a record $1.54 billion.
Also in the fourth quarter, Dosch said the company announced a restructuring that would result in $20 million of annual savings.
Anixter is a Glenview, Ill.-based distributor of communication and security products, electrical and electronic wire and cable, fasteners and other small parts.
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