Cramer Likes Watsco's (WSO) Dividend Yield

Sticking to the flight-to-safety trade, Jim Cramer recommended shares of Watsco (NYSE: WSO) on his CNBC show, Mad Money last week. Cramer believes Watsco is "a perfect way to play the coming bottom on in the housing market."

Cramer seems most attracted to Watsco's $0.45 per share dividend, which yields about 4.8% based on Friday's closing price of $37.27. The stock is currently trading higher in pre-market open, probably due to the Cramer tout. Shares of Watsco are about 4.6% higher, to $39.00 this morning.

Jim also likes the fact that Watsco has worked at improving its margins over the last quarter. Cramer also mentions the company's cost-cutting efforts, which have taken off about $25 million from Watsco's bottom line, still have another $8-$12 million of savings expected over the next couple of quarters.

Watsco, Inc., together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment, as well as related parts and supplies in the United States.

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