HEICO Corporation Declares Semi-Annual Cash Dividend; Represents 82nd Consecutive Semi-Annual Cash Dividend
June 12 2019 - 8:30AM
Business Wire
HEICO CORPORATION (NYSE: HEI.A) (NYSE: HEI) today announced that
its Board of Directors declared a regular semi-annual cash dividend
of $.07 per share payable on both classes of common stock. The cash
dividend is payable on July 15, 2019 to shareholders of record as
of July 1, 2019. In December 2018, the cash dividend was increased
by 17%.
Laurans A. Mendelson, HEICO's Chairman and Chief Executive
Officer, along with the Company's Co-Presidents, Eric A. Mendelson
and Victor H. Mendelson remarked, "By declaring this regular
semi-annual cash dividend, our Board of Directors confirms its
confidence in HEICO's growth strategies and continues to reward our
shareholders, while retaining sufficient capital to fund our
internal growth objectives and acquisition strategies."
Since 1990, HEICO has executed on a growth strategy which has
consistently delivered superior returns and value to our
shareholders. Considering the impact of cash dividends, prior stock
splits and stock dividends, one share of HEI worth $8.38 in 1990
has become worth on a combined basis approximately $4,358 today
representing an increase of approximately 520 times the 1990 value
and a compound annual growth rate of 24%.
The Company 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.
There are currently approximately 80.1 million shares of HEICO's
Class A Common Stock (HEI.A) outstanding and 53.8 million shares of
HEICO's Common Stock (HEI) outstanding. The stock symbols for
HEICO's two classes of common stock on most websites are HEI.A and
HEI. However, some websites change HEICO's Class A Common Stock
trading symbol (HEI.A) to HEI/A or HEIa.
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 http://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: lower
demand for commercial air travel or 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 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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Victor H. Mendelson (305) 374-1745Carlos L. Macau, Jr. (954)
987-4000
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