Watsco, Inc. (NYSE:WSO) Declares $3.30 Quarterly Dividend

Watsco, Inc. (NYSE:WSO) declared a quarterly dividend on Wednesday, July 1st. Investors 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 yield of 3.2%. The ex-dividend date of this dividend is Thursday, July 16th.

Watsco has increased 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 payout ratio of 85.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Down 2.3%

WSO stock traded down $9.46 during midday trading on Wednesday, hitting $407.27. The company’s stock had a trading volume of 392,540 shares, compared to its average volume of 432,610. The firm’s 50-day moving average is $400.94 and its 200-day moving average is $388.84. Watsco has a 12 month low of $323.05 and a 12 month high of $494.94. The company has a market cap of $16.56 billion, a PE ratio of 33.80 and a beta of 1.04.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, April 28th. The construction company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. Watsco had a return on equity of 15.31% and a net margin of 6.85%.The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned $1.93 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. Analysts expect that Watsco will post 12.66 earnings per share for the current 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.