Watsco (WSO) Misses Q2 EPS by 23c; Announces 24% Dividend Hike
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Watsco Reports 2016 Second Quarter Results
July 22, 2016 7:30 AM EDTSales Momentum Building into Third Quarter After Late Start to Summer Season
Record Sales, Net Income & EPS for First Half of 2016; Annual Dividend Boosted 24% to $4.20 Per Share From Strong Cash Flow
MIAMI--(BUSINESS WIRE)-- Watsco, Inc. (NYSE: WSO) reported its results for the second quarter and six-month periods ended June 30, 2016.
Second Quarter Results
Sales trends:
1% sales decline to $1.21 billion (flat on a same-store basis) 1% decrease in HVAC equipment (67% of sales) 3% decrease in other HVAC products (28% of sales) 8%... MoreWatsco Boosts Annual Dividend by 24% to $4.20 Per Share
July 22, 2016 7:30 AM EDTMIAMI--(BUSINESS WIRE)-- Watsco, Inc. (NYSE: WSO) announced today that its Board of Directors has approved a 24% increase in its annual dividend to $4.20 per share on each outstanding share of its Common and Class B common stock. The increase will be reflected in the Companys next regular dividend payment beginning in October 2016.
Albert H. Nahmad, Watscos Chairman & CEO stated: We are pleased to be able to increase dividends to our shareholders. This latest increase reflects our confidence in the business and is supported by our continued positive cash flow and our strong balance... More
