Watsco, Inc. (WSO) Declares $5.00 Special Dividend; 6.6% Yield

October 1, 2012 7:32 AM EDT
Watsco, Inc. (NYSE: WSO) declared a special dividend of $5.00 per share.

The dividend will be payable on October 31, 2012, to stockholders of record on October 15, 2012.

The annual yield on the dividend is 6.6 percent.

Albert H. Nahmad, Watsco’s Chairman & Chief Executive Officer stated, "Our philosophy for sharing cash flow and the Company’s wealth through dividends continues. In particular, payment of a special dividend of this magnitude recognizes the confidence we have in our Company and our on-going capability to generate free cash flow. The convergence of our strong balance sheet, a low-cost of capital and the uncertainty of government tax policy beginning next year creates an opportunity to provide immense value to our shareholders. Our financial position will remain conservative with continued capacity to make investments in our business and build our network."

For a dividend history and other dividend-related data on Watsco, Inc. (WSO) click here.

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