Watsco, Inc.'s Board of Directors formally declared a regular quarterly cash dividend of $3.00 per share on its Common and Class B common stock. This declaration confirms the 11% increase to an annual rate of $12.00 per share, which was previously approved and announced. The dividend is payable on April 30, 2025, to shareholders of record at the close of business on April 15, 2025.
This marks the 51st consecutive year that Watsco has paid dividends to its shareholders, underscoring its consistent commitment to returning cash flow. The company's philosophy involves sharing increasing amounts of cash flow through higher dividends while maintaining a conservative financial position. This approach ensures continued capacity to invest in and expand its distribution network.
Chairman and CEO Albert H. Nahmad stated that the dividend increase reflects continued confidence in the business, which is fundamentally supported by Watsco's strong balance sheet. Future dividend changes will be evaluated based on investment opportunities, cash flow, general economic conditions, and the company's overall financial health.
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