Heico Corporation Declares 85th Consecutive Cash Dividend
HEICO Corporation (NYSE:HEI.A and HEI) has declared a cash dividend of $0.08 per share, payable on January 21, 2021, to shareholders of record as of January 7, 2021. This marks the company's 85th consecutive semi-annual cash dividend since 1979. Additionally, the Annual Shareholders' Meeting is scheduled for March 19, 2021, with a record date of January 22, 2021. The company’s stock has seen significant growth, with shares appreciating approximately 572 times since 1990, reflecting a 23% compound annual growth rate.
- Declared a cash dividend of $0.08 per share, reflecting confidence in financial stability.
- 85th consecutive semi-annual cash dividend since 1979, indicating a strong commitment to returning value to shareholders.
- Significant long-term stock appreciation, with a 572-fold increase since 1990.
- None.
HEICO Corporation (NYSE:HEI.A) (NYSE:HEI) announced today that its Board of Directors declared a cash dividend of
(NOTE: HEICO has two classes of common stock traded on the NYSE. Both classes, the Class A Common Stock (HEI.A) and the Common Stock (HEI), are virtually identical in all economic respects. The only difference between the share classes is the voting rights. The Class A Common Stock (HEI.A) carries 1/10 vote per share and the Common Stock (HEI) carries one vote per share.)
The dividend is payable on January 21, 2021 to shareholders of record as of January 7, 2021.
This dividend will be HEICO’s 85th consecutive semi-annual cash dividend since 1979.
Laurans A. Mendelson, HEICO’s Chairman and Chief Executive Officer, along with HEICO’s Co-Presidents, Eric A. Mendelson and Victor H. Mendelson, commented, “HEICO’s strength in the face of challenging conditions this year, coupled with our optimism for HEICO’s future, gave our Board the confidence to continue paying a cash dividend through the current health pandemic. While this is important to all of our shareholders, it is especially important to our Team Members, the vast majority of whom are fellow HEICO shareholders through their 401K plans and other ways. We are extremely proud of our Team Members’ many accomplishments in the face of serious adversity.”
Considering the impact of cash dividends, prior stock splits and stock dividends, one share of HEICO worth
HEICO also announced that its Annual Shareholders’ Meeting will be held on Friday, March 19, 2021. Shareholders of record at the close of business on January 22, 2021 will be entitled to vote at the meeting.
HEICO Corporation is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group. HEICO’s customers include a majority of the world’s airlines and overhaul shops, as well as numerous defense and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers. For more information about HEICO, please visit our website at www.heico.com.
Certain statements in this press release constitute forward-looking statements, which are subject to risks, uncertainties and contingencies. HEICO's actual results may differ materially from those expressed in or implied by those forward-looking statements as a result of factors including: the severity, magnitude and duration of the COVID-19 Pandemic; HEICO’s liquidity and the amount and timing of cash generation; lower commercial air travel caused by the COVID-19 Pandemic and its aftermath, airline fleet changes or airline purchasing decisions, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase to our costs to complete contracts; governmental and regulatory demands, export policies and restrictions, reductions in defense, space or homeland security spending by U.S. and/or foreign customers or competition from existing and new competitors, which could reduce our sales; our ability to introduce new products and services at profitable pricing levels, which could reduce our sales or sales growth; product development or manufacturing difficulties, which could increase our product development and manufacturing costs and delay sales; our ability to make acquisitions and achieve operating synergies from acquired businesses; customer credit risk; interest, foreign currency exchange and income tax rates; economic conditions within and outside of the aviation, defense, space, medical, telecommunications and electronics industries, which could negatively impact our costs and revenues; and defense spending or budget cuts, which could reduce our defense-related revenue. Parties receiving this material are encouraged to review all of HEICO's filings with the Securities and Exchange Commission, including, but not limited to filings on Form 10-K, Form 10-Q and Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
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