Heico hikes dividend by 11.1%

On December 19, 2022, HEICO Corporation (HEI) will raise its semi-annual dividend by 11.1 percent to 10 cents per share. This marks 16 consecutive years dividend increases by the defense company.

The next HEI dividend is payable on January 23, 2023 to all shareholders of record on January 5, 2023. A new annual dividend rate of $0.20 per share will yield 0.12% at a stock price of $149.44. The next ex-dividend date for HEI will be January 4, 2023.

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 Board of Directors declared this increased dividend with a view toward HEICO's expected continued growth and confidence in the Company's very strong cash generation. We are also very proud that a supermajority of HEICO's Team Members will receive the dividend through their accounts in the Company's 401(k) plan."

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. HEICO was originally formed in 1957 as Heinicke Instruments to design and sell laboratory equipment. The company went public in 1960 and has paid a dividend every year since 1979.