Synnex Corp. shares reached record prices Monday afternoon after the Silicon Valley contract-manufacturing company handily beat earnings and revenue expectations and raised its quarterly dividend. Synnex reported third-quarter profit of $58.7 million, or $1.47 a share, on sales of $3.67 billion; after adjustments for acquisition-related expenses and other factors, the company claimed earnings of $1.73 a share. Synnex’s profit easily topped analysts’ average expectation of $1.56 a share, according to FactSet, as well as Synnex’s forecast of $1.52 to $1.57 a share. Analysts on average expected quarterly revenue of $3.49 billion, according to FactSet. Synnex pushed its dividend to 25 cents a share, after paying 20 cents a share last quarter. Synnex shares topped $112 in late trading after closing at $106.18; the stock has an intraday record high of $108.31.
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