HEICO Corporation (HEI) will raise its semi-annual dividend to $0.075 per share. Adjusted for a new stock split that was also announced the new dividend will by 6 cents per share, up 7.1 percent from the current dividend.

The new cash dividend will be paid on July 19, 2018 to shareholders of record in the same class of shares at the close of business on July 11, 2018. The new dividend yields just 0.1%.

Laurans A. Mendelson, HEICO’s Chairman and Chief Executive Officer, along with HEICO’s Co-Presidents, Eric A. Mendelson and Victor H. Mendelson, commented, “HEICO’s strong cash generation, strong operating performance and strong culture gives our Board of Directors confidence in our outlook. This stock split and increased cash dividend reflects that confidence.”

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.