Watsco (WSO) Hikes Annual Dividend 24% to $4.20/Share
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July 22, 2016 7:30 AM EDT
Sales 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%...
More
July 22, 2016 7:30 AM EDT
MIAMI--(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
