Watsco Hikes Dividend 60%

Heating and cooling specialist Watsco  (NYSE: WSO  ) announced today its third-quarter dividend of $0.40 per share on its common and Class B shares, a 60% increase in the payout made to investors from $0.25 per share.

Commenting on the company's philosophy of sharing cash flow through dividends, Watsco Chairman and CEO Albert H. Nahmad said, "As we have stated many times in the past, our goal over the long-term is to pay increasing dividends while maintaining a conservative balance sheet with capacity to make investments in our business and build our network. We will consider future increases in light of such investment opportunities, cash flow, general economic conditions, and our overall financial condition."

The board of directors said the quarterly dividend is payable on October 31 to holders of record at the close of business on October 15. The regular dividend payment equates to a $1.20-per-share annual dividend, yielding 1.3% based on the closing price today of Watsco's stock.

WSO Dividend Chart

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

Read/Post Comments (0) | Recommend This Article (2)

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.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2666376, ~/Articles/ArticleHandler.aspx, 9/29/2016 11:47:33 AM

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...

Today's Market

updated Moments ago Sponsored by:
DOW 18,301.27 -37.97 -0.21%
S&P 500 2,168.02 -3.35 -0.15%
NASD 5,294.44 -24.11 -0.45%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/29/2016 11:28 AM
WSO $140.57 Down -0.99 -0.70%
Watsco CAPS Rating: ***