Watsco, Inc. (WSO) Raises Quarterly Dividend 60% to $0.40; 1.7% Yield

October 2, 2013 7:31 AM EDT
Watsco, Inc. (NYSE: WSO) declared a quarterly dividend of $0.40 per share, or $1.6 annualized. This is a 60% increase from the prior dividend of $0.25.

The dividend will be payable on October 31, 2013, to stockholders of record on October 15, 2013, with an ex-dividend date of October 10, 2013.

The annual yield on the dividend is 1.7 percent.

Albert H. Nahmad, Watsco's Chairman & Chief Executive Officer stated, "Our philosophy of sharing cash flow through dividends continues. 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.”

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


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