Watsco, Inc. (WSO) to Distribute Quarterly Dividend of $3.30 on July 31st

Watsco, Inc. (NYSE:WSO) declared a quarterly dividend on Wednesday, July 1st. Stockholders of record on Thursday, July 16th will be paid a dividend of 3.30 per share by the construction company on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, July 16th.

Watsco has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Watsco has a dividend payout ratio of 85.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Watsco to earn $13.88 per share next year, which means the company should continue to be able to cover its $13.20 annual dividend with an expected future payout ratio of 95.1%.

Watsco Trading Up 2.5%

NYSE WSO opened at $393.45 on Tuesday. Watsco has a 1-year low of $323.05 and a 1-year high of $494.94. The stock has a 50-day moving average of $392.67 and a 200-day moving average of $391.68. The firm has a market cap of $16.00 billion, a PE ratio of 32.65 and a beta of 1.02.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, April 28th. The construction company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.14. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. Watsco had a return on equity of 15.31% and a net margin of 6.85%.The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.93 earnings per share. As a group, equities research analysts forecast that Watsco will post 12.66 earnings per share for the current fiscal year.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.