HEICO Corporation Declares Cash Dividend; Sets Annual Meeting and Record Dates
Rhea-AI Summary
HEICO (NYSE:HEI.A)(NYSE:HEI) has declared its 93rd consecutive semiannual cash dividend of $0.11 per share on both its Class A Common Stock and Common Stock. The dividend will be paid on January 17, 2025 to shareholders of record as of January 3, 2025.
The company also announced its annual shareholders meeting, scheduled for March 14, 2025, with voting eligibility for shareholders of record on January 17, 2025. HEICO's management expressed enthusiasm about the company's future growth prospects and highlighted that team members receive the dividend through their 401K plan accounts.
Positive
- Maintained 93 consecutive semiannual dividend payments since 1979, demonstrating financial stability
- Consistent dividend policy indicates strong cash flow management
- Employee inclusion in dividend benefits through 401K plan suggests strong corporate culture
Negative
- None.
News Market Reaction – HEI
In the trading session that priced this news, HEI declined 1.14%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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$.11 per share cash dividend declared
HOLLYWOOD, FL / ACCESSWIRE / December 17, 2024 / HEICO Corporation (NYSE:HEI.A)(NYSE:HEI) today announced that its Board of Directors declared an
The dividend is HEICO's 93rd consecutive semiannual cash dividend since 1979.
The dividend is payable on January 17, 2025 to all shareholders of record on January 3, 2025.
Laurans A. Mendelson, HEICO's Chairman and Chief Executive Officer, along with Eric A. Mendelson and Victor H. Mendelson, HEICO's Co-Presidents, remarked, "HEICO's continuing success warrants this 93rd consecutive semiannual cash dividend and we remain enthusiastic about the Company's growth ahead. As always, our Team Members receive this dividend in their HEICO 401K plan accounts, which is entirely appropriate given how our Team Members are responsible for HEICO's success."
HEICO's Board of Directors also set the Company's next annual meeting of shareholders for March 14, 2025. Shareholders of record on January 17, 2025 are eligible to vote on matters to be considered at the meeting.
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 https://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. Factors that could cause such differences include, among others: the severity, magnitude and duration of public health threats, such as the COVID-19 pandemic; our liquidity and the amount and timing of cash generation; lower commercial air travel, 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 and manufacturing costs and delay sales; cybersecurity events or other disruptions of our information technology systems could adversely affect our business; and our ability to make acquisitions, including obtaining any applicable domestic and/or foreign governmental approvals, and achieve operating synergies from acquired businesses; customer credit risk; interest, foreign currency exchange and income tax rates; and economic conditions, including the effects of inflation, within and outside of the aviation, defense, space, medical, telecommunications and electronics industries, which could negatively impact our costs and revenues. 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.
Contact Information
Victor H. Mendelson
(305) 374-1745 ext. 7590
Carlos L. Macau, Jr.
(954) 987-4000 ext. 7570
SOURCE: HEICO Corporation
View the original press release on accesswire.com