Watsco Declares $1.25 Quarterly Dividend
October 02 2017 - 7:30AM
Watsco, Inc. (NYSE:WSO) announced today that its Board of Directors
has declared a regular quarterly cash dividend of $1.25 on each
outstanding share of its Common and Class B common stock. The cash
dividend is payable on October 31, 2017 to shareholders of record
at the close of business on October 16, 2017.
Watsco has paid dividends to shareholders for
more than 40 consecutive years.
Watsco provides comfort to homes and businesses
regardless of the outdoor climate. There are approximately 92
million central air conditioning and heating systems installed in
the United States that have been in service more than 10 years.
Older systems often operate below today’s government mandated
energy efficiency and environmental standards. Watsco has an
opportunity to accelerate the replacement of these systems at a
scale greater than its competitors as the movement toward reducing
energy consumption and its environmental impact continues. This is
especially important since heating and cooling accounts for
approximately half of the energy consumed in a typical U.S.
home.
Watsco’s traditional sales channel is the
industry’s largest and currently serves 88,000 contractor
businesses through 562 locations in the United States, Canada,
Mexico and Puerto Rico, and on an export basis to Latin America and
the Caribbean. Watsco is a technology company, operating scalable
platforms for mobile apps, e-commerce, business intelligence and
supply chain. Strategic goals are to accelerate sales and profit
growth, increase the speed and convenience of serving customers and
to extend its reach into new geographies and sales channels. Watsco
is also developing technologies to address the evolving buying
habits of consumers in the digital economy. Over the long-term,
Watsco believes its focus, scale and innovative culture offer
significant advantages to address the consumer market, which is
estimated to be $88 billion annually. Additional information about
Watsco may be found at http://www.watsco.com.
Barry S. LoganSenior Vice President(305)
714-4102e-mail: blogan@watsco.comWatsco, Inc.2665 S. Bayshore
Drive, Suite 901Miami, Florida 33133, USA(305) 714-4100Fax: (305)
858-4492www.watsco.com
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