Watsco Declares $2.70 Quarterly Dividend
Watsco, Inc. (NYSE: WSO) has declared a regular quarterly cash dividend of $2.70 per share on its Common and Class B common stock. The dividend is payable on October 31, 2024 to shareholders of record at the close of business on October 16, 2024. This marks 50 consecutive years of dividend payments by Watsco. The company's dividend philosophy aims to share cash flow while maintaining a conservative balance sheet and capacity for network expansion.
Watsco operates the largest distribution network for HVAC/R products in the United States, Canada, Mexico, and Puerto Rico. The company focuses on the replacement market, which has grown due to aging systems and the introduction of higher energy-efficient models. Watsco plays a significant role in reducing CO2e emissions through the sale of more efficient HVAC systems, having averted an estimated 20.9 million metric tons of CO2e emissions from January 2020 to June 2024.
Watsco, Inc. (NYSE: WSO) ha dichiarato un dividendo in contante regolare trimestrale di $2,70 per azione sulle sue azioni ordinarie e sulle azioni ordinarie di Classe B. Il dividendo sarà pagabile il 31 ottobre 2024 agli azionisti registrati alla chiusura delle attività del 16 ottobre 2024. Questo rappresenta 50 anni consecutivi di pagamenti di dividendi da parte di Watsco. La filosofia dell'azienda in materia di dividendi mira a condividere il flusso di cassa mantenendo un bilancio conservativo e la capacità di espansione della rete.
Watsco gestisce la più grande rete di distribuzione di prodotti HVAC/R negli Stati Uniti, Canada, Messico e Porto Rico. L'azienda si concentra sul mercato della sostituzione, cresciuto a causa dei sistemi obsoleti e dell'introduzione di modelli ad alta efficienza energetica. Watsco svolge un ruolo significativo nella riduzione delle emissioni di CO2e attraverso la vendita di sistemi HVAC più efficienti, avendo evitato un stimato 20,9 milioni di tonnellate metriche di emissioni di CO2e dal gennaio 2020 a giugno 2024.
Watsco, Inc. (NYSE: WSO) ha declarado un dividendo en efectivo regular trimestral de $2.70 por acción sobre sus acciones ordinarias y acciones ordinarias de Clase B. El dividendo se pagará el 31 de octubre de 2024 a los accionistas registrados al cierre de operaciones el 16 de octubre de 2024. Esto marca 50 años consecutivos de pagos de dividendos por parte de Watsco. La filosofía de dividendos de la empresa tiene como objetivo compartir el flujo de efectivo mientras se mantiene un balance conservador y la capacidad de expansión de la red.
Watsco opera la red de distribución más grande de productos HVAC/R en los Estados Unidos, Canadá, México y Puerto Rico. La empresa se centra en el mercado de reemplazo, que ha crecido debido a los sistemas envejecidos y la introducción de modelos de mayor eficiencia energética. Watsco desempeña un papel importante en la reducción de las emisiones de CO2e a través de la venta de sistemas HVAC más eficientes, habiendo evitado un estimado de 20.9 millones de toneladas métricas de emisiones de CO2e desde enero de 2020 hasta junio de 2024.
Watsco, Inc. (NYSE: WSO)는 보통주와 클래스 B 보통주에 대해 주당 $2.70의 정기 분기 현금 배당금을 선언했습니다. 배당금은 2024년 10월 31일에 2024년 10월 16일 업무 종료 시점의 주주에게 지급됩니다. 이는 Watsco가 50년 연속 배당금을 지급한 것을 의미합니다. 회사의 배당 철학은 보수적인 재무 상태를 유지하면서 현금 흐름을 공유하는 것을 목표로 하고 있습니다.
Watsco는 미국, 캐나다, 멕시코 및 푸에르토리코에서 HVAC/R 제품을 위한 가장 큰 유통망을 운영하고 있습니다. 회사는 노후 시스템과 더 높은 에너지 효율 모델의 도입으로 인해 성장한 교체 시장에 집중하고 있습니다. Watsco는 더 효율적인 HVAC 시스템 판매를 통해 CO2e 배출량을 줄이는 데 중요한 역할을 하고 있으며, 2020년 1월부터 2024년 6월까지 약 2090만 미터톤의 CO2e 배출량을 회피했습니다.
Watsco, Inc. (NYSE: WSO) a déclaré un dividende en espèces trimestriel régulier de $2,70 par action sur ses actions ordinaires et ses actions ordinaires de Classe B. Le dividende sera versé le 31 octobre 2024 aux actionnaires enregistrés à la clôture des affaires le 16 octobre 2024. Cela marque 50 années consécutives de paiements de dividendes par Watsco. La philosophie de dividende de l'entreprise vise à partager le flux de trésorerie tout en maintenant un bilan conservateur et une capacité d'expansion du réseau.
Watsco gère le plus grand réseau de distribution de produits HVAC/R aux États-Unis, au Canada, au Mexique et à Porto Rico. L'entreprise se concentre sur le marché du remplacement, qui a connu une croissance en raison de systèmes vieillissants et de l'introduction de modèles à haute efficacité énergétique. Watsco joue un rôle important dans la réduction des émissions de CO2e grâce à la vente de systèmes HVAC plus efficaces, ayant évité une estimation de 20,9 millions de tonnes métriques d'émissions de CO2e de janvier 2020 à juin 2024.
Watsco, Inc. (NYSE: WSO) hat eine regelmäßige vierteljährliche Bardividende von $2,70 pro Aktie auf ihre Stamm- und Klasse-B-Aktien erklärt. Die Dividende ist am 31. Oktober 2024 an Aktionäre zu zahlen, die zum Geschäftsschluss am 16. Oktober 2024 registriert sind. Dies markiert 50 aufeinanderfolgende Jahre von Dividendenzahlungen durch Watsco. Die Dividendenphilosophie des Unternehmens zielt darauf ab, den Cashflow zu teilen und gleichzeitig eine konservative Bilanz und die Fähigkeit zur Netzwerkexpansion aufrechtzuerhalten.
Watsco betreibt das größte Vertriebsnetz für HVAC/R-Produkte in den Vereinigten Staaten, Kanada, Mexiko und Puerto Rico. Das Unternehmen konzentriert sich auf den Ersatzmarkt, der aufgrund alternder Systeme und der Einführung energieeffizienterer Modelle gewachsen ist. Watsco spielt eine bedeutende Rolle bei der Reduzierung der CO2e-Emissionen durch den Verkauf effizienterer HVAC-Systeme und hat von Januar 2020 bis Juni 2024 geschätzte 20,9 Millionen metrische Tonnen CO2e-Emissionen vermieden.
- Declared a quarterly cash dividend of $2.70 per share
- 50 consecutive years of dividend payments, demonstrating consistent shareholder returns
- Largest distribution network for HVAC/R products in North America
- Focus on the growing replacement market for HVAC systems
- Contributed to averting 20.9 million metric tons of CO2e emissions through efficient HVAC system sales
- None.
MIAMI, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Watsco, Inc.’s (NYSE: WSO) Board of Directors has declared a regular quarterly cash dividend of
Watsco has paid dividends to shareholders for 50 consecutive years. The Company’s philosophy is to share cash flow through dividends while maintaining a conservative balance sheet with continued capacity to build its distribution network. Future changes in dividends are considered in light of investment opportunities, cash flow, general economic conditions and Watsco’s overall financial condition.
About Watsco
Watsco operates the largest distribution network for heating, air conditioning and refrigeration (HVAC/R) products with locations in the United States, Canada, Mexico, and Puerto Rico, and on an export basis to Latin America and the Caribbean.
We focus on the replacement market, which has increased in size and importance as a result of the aging of installed systems, the introduction of higher energy efficient models and the necessity of HVAC products in homes and businesses. According to data published in March 2023 by the Energy Information Administration, there are approximately 102 million HVAC systems installed in the United States that have been in service for more than 10 years, most of which operate well below current minimum efficiency standards.
Accordingly, Watsco has the opportunity to be a significant and important contributor toward climate change as it plays an important role to lower CO2e emissions. According to the Department of Energy, HVAC systems account for roughly half of U.S. household energy consumption. As such, replacing older systems at higher efficiency levels is a critical means for homeowners to reduce electricity consumption and their carbon footprint.
Based on estimates validated by independent sources, Watsco averted an estimated 20.9 million metric tons of CO2e emissions from January 1, 2020 to June 30, 2024 through the sale of replacement HVAC systems at higher-efficiency standards, an equivalent of removing 5.0 million gas powered vehicles annually off the road. More information, including sources and assumptions used to support the Company’s estimates, can be found at www.watsco.com.
This document includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results. These forward-looking statements are distinguished by use of words such as “will,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” or “intend,” the negative of these terms, and similar references to future periods. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in economic, business, competitive market, new housing starts and completions, capital spending in commercial construction, consumer spending and debt levels, regulatory and other factors, including, without limitation, the effects of supplier concentration, competitive conditions within Watsco’s industry, the seasonal nature of sales of Watsco’s products, the ability of the Company to expand its business, insurance coverage risks and final GAAP adjustments.
Detailed information about these factors and additional important factors can be found in the documents that Watsco files with the Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements speak only as of the date the statements were made. Watsco assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except as required by applicable law.
Barry S. Logan
Executive Vice President
(305) 714-4102
e-mail: blogan @watsco.com
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