MIAMI, FLORIDA – (GLOBENEWSWIRE), January 2, 2019 – Watsco, Inc.'s (NYSE: WSO) Board of Directors approved a 10% increase in the annual dividend rate to $6.40 per share and has declared a regular quarterly cash dividend of $1.60 on each outstanding share of its Common and Class B common stock. The cash dividend is payable on January 31, 2019 to shareholders of record at the close of business on January 16, 2019. Albert H. Nahmad, Watsco's Chairman & CEO stated: "We are pleased to be able to increase dividends to our shareholders. This latest increase reflects our confidence in the business and is supported by our continued cash flow and strong balance sheet." Watsco has paid dividends to shareholders for 45 consecutive years. The Company's philosophy is to share increasing amounts of cash flow through higher dividends while maintaining a conservative balance sheet with continued capacity to build its distribution network.