Watsco (WSO) Approves 21% Increase to Annual Dividend Payment
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Watsco Sets Records for Sales, Net Income, EPS, Cash Flow & Boosts Annual Dividend 21% to $3.40 Per Share
October 27, 2015 7:30 AM EDTMIAMI--(BUSINESS WIRE)-- Watsco, Inc. (NYSE: WSO)(Paris: WSO) reported record results for the third quarter and for the nine months ended September 30, 2015.
Third Quarter Results
Sales trends:
4% growth to a record $1.18 billion (5% on same-store basis) 5% growth in HVAC equipment (66% of sales), including 8% growth in the U.S. 3% growth in other HVAC products (29% of sales) 2% growth in commercial refrigeration products (5% of sales)Key performance metrics:
5% increase in earnings per share to a... MoreWatsco Boosts Annual Dividend by 21% to $3.40 Per Share
October 27, 2015 7:30 AM EDTMIAMI--(BUSINESS WIRE)-- Watsco, Inc. (NYSE: WSO) (Paris: WSO) announced today that its Board of Directors has approved a 21% increase in its annual dividend to $3.40 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 January 2016.
Watsco has paid dividends to shareholders for 40 consecutive years. The Companys philosophy is to share increasing amounts of cash flow through higher dividends while maintaining a conservative balance sheet with continued capacity to... More
