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Equity
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Stockholders' Equity Note Disclosure
Share Repurchases
On May 31, 2022, the Company’s Board of Directors adopted a resolution authorizing the repurchase of up to $1 billion of the Company’s common stock and Series A Preferred Stock. The share repurchase authorization has no expiration date and may be modified, suspended, or terminated at any time without prior notice.
During the three and six months ended June 30, 2024, the Company entered into spot repurchase transactions through brokers to purchase 1,679,176 and 2,022,323 shares, respectively, of its common stock in the open market for cash totaling $303.0 million and $353.5 million, respectively, including excise taxes. Wesco funded the repurchases with available cash and borrowings under its accounts receivable securitization and revolving credit facilities. No shares of common stock were repurchased under the share repurchase authorization during the three or six months ended June 30, 2023.
Dividends
The 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 six months ended June 30, 2024:
Date DeclaredRecord DatePayment Date
Amount Per Share
Dividend Payment
February 29, 2024
March 15, 2024
March 29, 2024
$0.413 $20.9 million
May 30, 2024June 14, 2024June 28, 2024$0.413 $20.3 million
The following table is a summary of cash dividends declared and paid on the Company’s common stock for the six months ended June 30, 2023:
Date DeclaredRecord DatePayment Date
Amount Per Share
Dividend Payment
March 3, 2023
March 15, 2023
March 31, 2023
$0.375 $19.2 million
June 1, 2023June 15, 2023June 30, 2023$0.375 $19.2 million
During the three and six months ended June 30, 2024 and 2023, the Company's Board of Directors also declared and the Company paid quarterly cash dividends of $0.664 per depositary share relating to its Series A Preferred Stock totaling $14.4 million and $28.7 million, respectively, each year.