HEICO Declares 88th Consecutive Semi-Annual Cash Dividend
HOLLYWOOD, FL and MIAMI, FL/ACCESSWIRE/June 20, 2022/ HEICO Corporation (NYSE:HEI.A)(NYSE:HEI) today announced that its Board of Directors has approved a semi-annual cash dividend of $0.09 per share, payable on both classes of common stock. The cash dividend is payable on July 15, 2022 to shareholders of record as of July 1, 2022. This cash dividend represents the 88e consecutive semi-annual cash dividend since 1979.
(NOTE: HEICO has two classes of common stock that trade on the NYSE. The two classes, Class A common stock (HEI.A) and common stock (HEI), are virtually identical in all economic respects. The only difference between the share Class A common stock (HEI.A) carries 1/10th vote per share and common stock (HEI) one vote per share.)
Laurans A. Mendelson, President and CEO of HEICO, along with HEICO Co-Chairmen Eric A. Mendelson and Victor H. Mendelson said, “As we enter the second half of fiscal 2022, the strong performance continued HEICO, including excellent cash flow, has led our Board of Directors to declare another semi-annual cash dividend for all of our shareholders, which includes many members of the HEICO team.”
Taking into account the impact of cash dividends, prior stock splits, and stock dividends, a HEICO stock worth $8.38 in 1990 acquired a combined value of approximately $4,438, which represents an increase of approximately 530 times the 1990 value and a compound annual growth rate of approximately 22% as of June 17, 2022.
HEICO Corporation is primarily engaged in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group. HEICO’s customers include the majority of the world’s airlines and overhaul shops, as well as many defense and space contractors and military agencies around the world, in addition to medical equipment manufacturers, telecommunications and electronics. For more information about HEICO, please visit our website at www.heico.com.
Certain statements contained 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 or implied by these forward-looking statements due to factors such as: the severity, scale and duration of the COVID-19 pandemic; the liquidity of HEICO and the amount and timing of cash generation; declines in commercial air travel caused by the COVID-19 pandemic and its consequences, airline fleet changes or airline purchasing decisions, which may result in lower demand for our goods and services ; product specification costs and requirements, which could increase our costs to fulfill contracts; governmental and regulatory requirements, 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 price points, which could reduce our sales or increase our sales; difficulties in product development or manufacturing, which could increase our product development and manufacturing costs and delay sales; our ability to make acquisitions and realize operating synergies from acquired businesses; customer credit risk; interest, foreign exchange and income tax rates; economic conditions, including the effects of inflation, within and outside the aviation, defense, space, medical, telecommunications and electronics industries, that could negatively impact our costs and revenues; and defense spending or budget cuts, which could reduce our defense-related revenues. Parties receiving this material are encouraged to review all filings by HEICO 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 as required by applicable law.
Victor H. Mendelson (305) 374-1745 ext. 7590
Carlos L. Macao, Jr. (954) 987-4000 ext. 7570
THE SOURCE: HEICO Company