Watsco Inc. said Monday it's board has approved an increase in its annual dividend rate to $5 a share, or $1.25 a share per quarter. The maker of air conditioning and heating systems said the new quarterly payment will be made July 31 to shareholders of record as of July 17. Shares were not yet active premarket, but have gained 4% in 2017, while the S&P 500 has gained 8%.
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