MIAMI--(BUSINESS WIRE)--Oct. 1, 2015--
Watsco, Inc. (NYSE: WSO) (Paris: WSO) announced today that its Board of
Directors has declared a regular quarterly cash dividend of 70 cents on
each outstanding share of its Common and Class B common stock. This
represents a 17% increase in the quarterly dividend rate versus a year
ago. The cash dividend is payable on October 30, 2015 to shareholders of
record at the close of business on October 15, 2015.
Watsco improves indoor living and working environments with air
conditioning and heating solutions that provide comfort regardless of
the outdoor climate. There are approximately 89 million central air
conditioning and heating systems installed in the United States that
have been in service for more than 10 years. Older systems often operate
below today’s government mandated energy efficiency and environmental
standards. Watsco has an opportunity to accelerate the replacement of
these systems at a scale greater than our competitors as the movement
toward reducing energy consumption and its environmental impact
continues. This is especially important since heating and cooling
accounts for approximately half of the energy consumed in a typical U.S.
Watsco’s traditional sales channel is the sale of products from one of
its 566 locations in the United States, Canada, Mexico and Puerto Rico,
and on an export basis to Latin America and the Caribbean. This network
has been built over the last 25 years and serves over 50,000 contractor
customers. Watsco is developing and investing in technologies to enable
sales via e-commerce, on-line marketplaces and through the retail sales
channel. As the industry leader, significant growth potential remains
given that the estimated marketplace for HVAC/R products on an
installed-basis is estimated to be $80 billion. Additional information
about Watsco may be found at http://www.watsco.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151001005071/en/
Source: Watsco, Inc.
Barry S. Logan, 305-714-4102
Senior Vice President