Watsco Inc (WSO) to Issue Quarterly Dividend of $1.60 on July 31st

Watsco Inc (NYSE:WSO) announced a quarterly dividend on Monday, July 1st, RTT News reports. Investors of record on Tuesday, July 16th will be paid a dividend of 1.60 per share by the construction company on Wednesday, July 31st. This represents a $6.40 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Monday, July 15th.

Watsco has raised its dividend by an average of 26.0% per year over the last three years and has increased its dividend every year for the last 5 years. Watsco has a payout ratio of 96.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Watsco to earn $7.19 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 89.0%.

Shares of WSO stock opened at $164.84 on Friday. The stock has a market cap of $6.21 billion, a PE ratio of 25.40, a P/E/G ratio of 1.90 and a beta of 0.91. Watsco has a 52 week low of $131.88 and a 52 week high of $187.46. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.27 and a current ratio of 3.17. The business has a fifty day moving average of $162.25.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, April 23rd. The construction company reported $0.88 EPS for the quarter, hitting the consensus estimate of $0.88. The business had revenue of $931.30 million for the quarter, compared to analysts’ expectations of $942.05 million. Watsco had a net margin of 5.05% and a return on equity of 14.23%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 EPS. On average, research analysts forecast that Watsco will post 6.81 EPS for the current fiscal year.

Separately, Zacks Investment Research upgraded shares of Inflarx from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Watsco currently has an average rating of “Hold” and a consensus target price of $168.80.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Dividend History for Watsco (NYSE:WSO)

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