Watsco, Inc. (NYSE:WSO) Shares to Pay Quarterly Dividend of $3.30

Watsco, Inc. (NYSE:WSO) declared a quarterly dividend on Thursday, October 1st. Investors of record on Friday, October 16th will be paid a dividend of $3.30 per share by the construction company on Friday, October 30th. This represents a $13.20 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, October 16th.

Watsco has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Watsco has a dividend 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 fall. Research analysts expect Watsco to earn $13.28 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 99.4%.

Watsco Stock Down 0.4%

Shares of NYSE WSO opened at $301.36 on Friday. The firm’s fifty day moving average is $317.27 and its 200 day moving average is $366.51. Watsco has a 52 week low of $295.75 and a 52 week high of $459.00. The company has a market cap of $12.43 billion, a price-to-earnings ratio of 26.14 and a beta of 1.06.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $4.00 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.41). The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Watsco had a net margin of 6.53% and a return on equity of 14.40%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.52 EPS. Equities research analysts anticipate that Watsco will post 12.21 earnings per share for the current year.

Watsco Company Profile

Watsco, Inc (NYSE: WSO) is a distributor of heating, air conditioning and refrigeration equipment and related products. The company supplies residential and commercial contractors with air conditioners, heat pumps, furnaces, refrigeration systems, indoor air-quality products, controls, replacement parts and other installation supplies.

Watsco serves the replacement and new-construction markets through a network of distribution centers, branches, showrooms and e-commerce platforms. Its customers primarily include HVAC and refrigeration contractors, dealers and other industry professionals, while its products are sourced from major manufacturers and distributed under leading industry brands.

Founded in 1956, Watsco has expanded through organic growth and acquisitions to become one of the largest HVAC and refrigeration distributors in North America.