HOLLYWOOD, Fla. & MIAMI--(BUSINESS WIRE)--HEICO Corporation (NYSE:HEI.A) (NYSE:HEI) announced today that its Board of Directors approved a 5-for-4 stock split on both its Class A Common Stock and Common Stock. The stock split will be effected in the form of a 25% stock dividend on each class of the Company’s shares.

HEICO’s Board of Directors approved a 9% increase in the semi-annual cash dividend to $.0875 per share ($.07 per share on a proforma 5-for-4 stock split basis) payable on both classes of common stock. The proforma cash dividend of $.07 per share will also be paid on the new shares to be issued with the stock dividend.

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 16th stock split or stock dividend since 1995 and HEICO’s 79th 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.”

Considering the reinvestment of cash dividends, and the impact of prior stock splits and stock dividends, a $100,000 investment in HEICO shares in 1990 has become worth approximately $24.2 million today, representing a compound annual growth rate of 22%.

HEICO also announced that its Annual Shareholders’ Meeting would be held on March 16, 2018. Shareholders of record at the close of business on January 17, 2018 will be entitled to vote at the meeting.

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. For more information about HEICO, please visit our website at http://www.heico.com.