HEICO Corporation (HEI) will raise its semi-annual dividend by 14.3 percent to $0.08 per share in the first quarter of 2020. This marks 12 consecutive years of double digit dividend increases by the defense company.

The next dividend is payable on January 23, 2020 to shareholders of record as of January 9, 2020. A new annualized dividend rate of 16 cents per share yields 0.1% at a stock price of $116.67.

HEICO states that the increased semi-annual cash dividend confirms the company's confidence in HEICO's consistent growth strategies and our desire to continue rewarding its shareholders, while retaining sufficient capital to fund its internal growth and its acquisitions. Considering the impact of cash dividends, prior stock splits and stock dividends, one share of HEI worth $8.38 in 1990 has become worth on a combined basis approximately $4,213, representing an increase of approximately 503 times the 1990 value and a compound annual growth rate of approximately 24% as of December 13, 2019.

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. HEICO's customers include a majority of the world's airlines and overhaul shops, as well as numerous defense and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers. HEICO was originally formed in 1957 as Heinicke Instruments to design and sell laboratory equipment. The company went public in 1960 and has paid a dividend every year since 1979.