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MIAMI - Watsco, Inc. (NYSE:WSO), the largest distributor of heating, air conditioning and refrigeration products with a market capitalization of $16.7 billion, announced Tuesday its Board of Directors has declared a regular quarterly cash dividend of $3.00 per share on both its Common and Class B common stock.
The dividend will be payable on July 31, 2025, to shareholders of record at the close of business on July 16, 2025, according to a company press release.
This quarterly payment marks Watsco’s 200th consecutive quarter of dividend payments, extending the company’s 51-year track record of returning cash to shareholders.
Watsco maintains a dividend philosophy centered on sharing cash flow while maintaining a conservative balance sheet that allows for continued expansion of its distribution network. The company evaluates potential dividend changes based on investment opportunities, cash flow, economic conditions, and overall financial position.
The company operates distribution locations across the United States, Canada, Mexico, and Puerto Rico, with additional export business to Latin America and the Caribbean. Watsco focuses primarily on the HVAC/R replacement market, which has grown due to aging installed systems and the introduction of higher energy efficient models.
In other recent news, Watsco, Inc. reported its financial results for the first quarter of 2025, revealing an earnings per share (EPS) of $1.93, which did not meet the expected $2.26. The company’s revenue also fell short, recording $1.53 billion against an anticipated $1.66 billion. Despite these results, Watsco increased its annual dividend by 11% to $12 per share. In a strategic move to enhance its market presence, Watsco completed the acquisition of Southern Ice Equipment Distributors, adding seven locations and approximately $47 million in annualized sales. This acquisition marks the third transaction for Watsco in 2025, following the acquisitions of Lashley & Associates and Hawkins HVAC Distributors. Additionally, during its annual shareholder meeting, Watsco elected directors and approved several key proposals, including the appointment of Deloitte & Touche LLP as its independent registered public accounting firm for the fiscal year 2025. The meeting also saw the approval of a non-binding advisory resolution on executive compensation. These developments highlight Watsco’s ongoing efforts to expand its reach and maintain transparency with its shareholders.
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