Aircraft parts manufacturer Heico Corp. (HEI) has raised its dividend by 10%.
The Hollywood, Florida-based company said it will pay a distribution of $0.11 U.S. per share going forward, up from $0.10 U.S. a share previously.
Heico pays its dividend to shareholders on a semi-annual (twice a year) basis. The new dividend will be paid on July 15 to shareholders of record as of July 1 this year.
Heico has consistently paid its semi-annual dividend since 1979.
The company primarily makes replacement parts for commercial and military aircraft in the U.S. However, it also manufactures some medical and telecommunications equipment.
Heico’s stock has risen 32% over the last 12 months to trade at $226.46 U.S. per share. Over five years, the company’s share price has gained 77%.
