Company: WCC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000929008-25-000034
Chunk: 86

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 86
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 Directors adopted a resolution authorizing the redemption of all outstanding shares of the Company's Series A Preferred Stock. As this authorization was separate from the May 31, 2022 share purchase authorization noted above, the redemption of Series A Preferred Stock did not impact the approximate dollar value of shares that may be repurchased under the earlier 2022 authorization.As of June 22, 2025, the Company redeemed all 21,612 outstanding shares of its Series A Preferred Stock, and the related depositary shares, each representing 1/1,000th of one share of Series A Preferred Stock, at a redemption price of $25,000 per share, for a total payment of $540.3 million. The Company accrued $5.4 million in excise tax and recognized a $27.6 million gain from the redemption as income attributable to common stockholders. As described in Note 9, “Debt”, Wesco funded the redemption with the net proceeds from the March 2025 issuance of the 6.375% senior notes due 2033. 

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Table of Contents   WESCO INTERNATIONAL, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(CONTINUED)(unaudited)

DividendsThe Company’s dividends on common stock are declared at the discretion of the Board of Directors. The following table is a summary of cash dividends declared and paid on the Company’s common stock for the nine months ended September 30, 2025: Date DeclaredRecord DatePayment DateAmount Per ShareDividend PaymentFebruary 27, 2025March 14, 2025March 31, 2025$0.454 $22.1 millionMay 29, 2025June 13, 2025June 30, 2025$0.454 $22.1 millionAugust 28, 2025September 12, 2025September 30, 2025$0.454 $22.1 millionThe following table is a summary of cash dividends declared and paid on the Company’s common stock for the nine months ended September 30, 2024:Date DeclaredRecord DatePayment DateAmount Per ShareDividend PaymentFebruary 29, 2024March 15, 2024March 29, 2024$0.413 $20.9 millionMay 30, 2024June 14,