Watsco Keeps Dividend Steady

HVAC systems specialist Watsco (NYSE: WSO  ) announced today its second-quarter dividend of $0.25 per share on its common and Class B shares, the same rate it's paid for the past two quarters after cutting the payout 60% from $0.62 per share.

The board of directors said the quarterly dividend is payable on July 31 to the holders of record at the close of business on July 15. The HVAC specialist has made quarterly payouts to investors since 1997. It paid a special dividend of $5.00 per share in December 2012 when it said it anticipated continuing to pay dividends to investors going forward but at a more moderate level in 2013.

The regular dividend payment equates to a $1.00-per-share annual dividend, yielding 1.2% based on the closing price of Watsco's stock on June 28.

WSO Dividend Chart

WSO Dividend data by YCharts. Chart reflects payment of special dividend in December 2012.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2518836, ~/Articles/ArticleHandler.aspx, 4/20/2014 3:33:50 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

TREND TRACKER: Get Rich When the Web Goes Dark

It's time to say "goodbye" to your Internet! One bleeding-edge technology is about to put the World Wide Web to bed. And if you act right away, it could make you wildly rich. Experts are calling it the single largest business opportunity in the history of capitalism… The Economist is calling it "transformative"... but you'll probably just call it "how I made my millions." Big money is already on the move. Don't be too late to the party – find out the 1 stock to own when the Web goes dark.


Advertisement