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Represents 75th Consecutive Semi-Annual Cash Dividend
HEICO Corporation (NYSE:HEI.A) (NYSE:HEI) today announced that its Board of Directors declared a regular semi-annual cash dividend of $.08 per share, payable on both classes of common stock. The cash dividend will be paid on January 19, 2016 to shareholders of record as of January 4, 2016.
The cash dividend represents a 14% increase over the prior semi-annual per share amount of $.07 and is HEICO’s 75th consecutive semi-annual cash dividend since 1979.
Laurans A. Mendelson, HEICO’s Chairman and Chief Executive Officer, along with HEICO’s Co-Presidents, Eric A. Mendelson and Victor H. Mendelson, remarked, “By raising the cash dividend, our Board of Directors’ goal is to confirm its continuing confidence in HEICO’s growth strategies and to continue 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 $880 today representing an increase of approximately 105 times the 1990 value and a compound annual growth rate of 20.5%.”
HEICO 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) receives 1/10 vote per share and the Common Stock (HEI) receives one vote per share. There are currently approximately 40.0 million shares of HEICO’s Class A Common Stock (HEI.A) outstanding and 26.9 million shares of HEICO’s Common Stock (HEI) outstanding. The stock symbols for HEICO’s two classes of common stock on most web sites are HEI.A and HEI. However, some web sites change HEICO’s Class A Common Stock stock symbol (HEI.A) to HEI/A or HEIa.
