Also on Tuesday, dividend stock Heico marked its 64th consecutive boost to its semiannual dividend. Take note: Unlike many companies that offer a quarterly payout, Heico only pays its dividend twice a year. Though the company doesn't exactly have a high dividend yield with its 0.3% payday, it's still worth noting that the company has a very consistent dividend history.
The regular semiannual cash dividend of 6 cents is payable on July 21 to shareholders of record as of July 7. This is a 25% boost over the company's previous dividend rate of 4.8 cents a share.
So what does Heico do? The company is an electronics component manufacturer engaged primarily with niche segments of the aerospace and defense industry, as well as medical, telecommunication and electronics companies. This diverse customer base provides a reliable cash flow that is partly responsible for the more than six decades of dividend increases for this stock.