MIAMI and HOLLYWOOD, Fla., Dec. 13, 2012 (GLOBE NEWSWIRE) -- HEICO Corporation (NYSE:HEI.A) (NYSE:HEI) advised that the shares of both its Class A Common Stock and its Common Stock will commence trading on an "ex-dividend" basis at the opening of New York Stock Exchange ("NYSE") trading this morning, December 13, 2012.
Accordingly, pursuant to NYSE rules, the prices of both classes of HEICO shares will be adjusted downward by $2.20 per share, the same amount as the upcoming payment of the Company's regular and special cash dividends. The dividends shall be paid to shareholders of record on Monday, December 17, 2012 and, in order to be a shareholder of record as of that date, and to receive the dividend payment, HEICO shares must have been purchased prior to the opening of trading today to allow for settlement under the "Trade + 3" trading rules.
The $2.20 per share price reduction reflects only the actions by the New York Stock Exchange under their rules and does not reflect a share revaluation by investors. The dividend will be paid by December 31, 2012.
The Company has two classes of common stock traded on the NYSE. Both classes, the Class A Common Stock (HEI.A) and the Common Stock (HEI), are virtually identical in all economic respects. The only difference between the share classes is the voting rights. The Class A Common Stock (HEI.A) receives 1/10 vote per share and the Common Stock (HEI) receives one vote per share. The stock symbols for HEICO's two classes of common stock on most web sites are HEI.A and HEI. However, some web sites change HEICO's Class A Common Stock symbol (HEI.A) to HEI/A or HEIa.
HEICO Corporation is engaged primarily in certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Hollywood, FL-based Flight Support Group and its Miami, FL-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. For more information about HEICO, please visit our web site at http://www.heico.com.