Watsco (WSO) Approves 21% Increase to Annual Dividend Payment
Get Alerts WSO Hot Sheet
Overall Analyst Rating:
NEUTRAL ( Up)
Dividend Yield: 2.6%
Revenue Growth %: +3.9%
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Watsco (NYSE: WSO) announced that its Board of Directors has approved a 21% increase in its annual dividend to $3.40 per share on each outstanding share of its Common and Class B common stock. The increase will be reflected in the Company’s next regular dividend payment beginning in January 2016.
*** Current yield on the dividend would be about 2.6 percent.
Watsco has paid dividends to shareholders for 40 consecutive years. The Company’s philosophy is to share increasing amounts of cash flow through higher dividends while maintaining a conservative balance sheet with continued capacity to build its distribution network. Future changes in dividends are considered in light of investment opportunities, cash flow, general economic conditions and Watsco’s overall financial condition.
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