Watsco Declares Quarterly Dividend
MIAMI -- April 1, 2013
Watsco, Inc. (NYSE: WSO)(Paris:WSO) announced today that its Board of
Directors has declared a regular quarterly cash dividend of 25 cents on each
outstanding share of its Common and Class B common stock. The cash dividend is
payable on April 30, 2013 to shareholders of record at the close of business
on April 15, 2013.
Watsco improves indoor living and working environments with air conditioning
and heating solutions that provide comfort regardless of the outdoor climate.
Our solutions also promote healthier indoor spaces by removing pollutants from
the indoor air that can lead to asthma, allergies and reductions in
productivity. Furthermore, since heating and cooling accounts for
approximately 56% of the energy consumed in a typical United States home, we
offer consumers the greatest opportunity to save money on energy by replacing
existing air conditioning and heating systems with more energy efficient and
environmentally friendly solutions.
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. We operate from more than 570 locations in the
United States, Canada, Mexico and Puerto Rico, with additional market coverage
on an export basis to Latin America and the Caribbean. As the industry leader,
significant growth potential remains given that our current revenue run-rate
is approximately 10% of the estimated $35 billion marketplace in the Americas
for HVAC/R products. Additional information about Watsco may be found at
Barry S. Logan, 305-714-4102
Senior Vice President
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