Watsco (WSO) Boosts Annual Dividend 10% to $7.80 Per Share
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Overall Analyst Rating:
NEUTRAL ( Up)
Dividend Yield: 2.4%
Revenue Growth %: +3.9%
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Watsco, Inc. (NYSE: WSO) announced today that its Board of Directors has approved a 10% increase in its annual dividend to $7.80 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 April 2021.
Albert H. Nahmad, Watsco’s Chairman & CEO stated: “We are pleased to increase dividends to our shareholders, which reflects our confidence in the business and is supported by our strong cash flow and balance sheet.”
Watsco has paid dividends to shareholders for 47 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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