Watsco Keeps Dividend Steady
HVAC systems specialist Watscoannounced today its second-quarter dividend of $0.25 per share on its common and Class B shares, the same rate it's paid for the past two quarters after cutting the payout 60% from $0.62 per share.
The board of directors said the quarterly dividend is payable on July 31 to the holders of record at the close of business on July 15. The HVAC specialist has made quarterly payouts to investors since 1997. It paid a special dividend of $5.00 per share in December 2012 when it said it anticipated continuing to pay dividends to investors going forward but at a more moderate level in 2013.
The regular dividend payment equates to a $1.00-per-share annual dividend, yielding 1.2% based on the closing price of Watsco's stock on June 28.
The article Watsco Keeps Dividend Steady originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends Watsco. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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