HEICO Corporation (HEI) will raise its semi-annual dividend to $0.0875 per share. It's the second dividend increase this year by the defence company. HEICO also approved a 5-for-4 stock split. The stock split will be effected in the form of a 25% stock dividend on each class of the Company’s shares.

Both the stock and cash dividends are payable on January 17, 2018 to shareholders of record as of January 3, 2018. Cash will be paid in lieu of fractional shares based on the last sale price of each share class on the record date.

This announcement marks HEICO’s second stock split and third cash dividend increase in the past year, as well as the 16(th) stock split or stock dividend since 1995 and HEICO’s 79(th) consecutive semi-annual cash dividend since 1979. The cash dividend represents a cumulative increase of 22% since January 1, 2017.

Laurans A. Mendelson, HEICO’s Chairman and Chief Executive Officer, along with HEICO’s Co-Presidents, Eric A. Mendelson and Victor H. Mendelson, commented, “This stock split and increased cash dividend reflects our Board of Director’s continuing confidence and enthusiasm in HEICO's long-term growth and financial outlook, while also retaining sufficient capital to invest in our internal growth objectives and acquisition strategies.”

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.