Earnings per share grew 93% to a record $1.39 per share.
For HVAC equipment, residential sales increased 18%, and commercial equipment sales stabilize and are now trending more positively.
Over the last 12 months, residential equipment sales in our U.S. markets have increased 15%, and we believe meaningful market share gains have been achieved.
TEC adds 32 locations and approximately $300 million in revenue and establishes Watsco's first major presence in the Midwest United States.
Lastly, a reminder that we raised our dividends by 10% in April 2021 to $7.80, a follow-up to the record cash flow achieved in 2020.
2021 marks our 47th consecutive year of paying dividends, and yet, we have increased our dividends 19 over the last 20 years, from $0.10 per share in '20 -- in the year 2000 -- let me say that again.
From $0.10 per share in '20 -- in the year 2000 to today's annual rate of $7.80.

Summary:
Earnings per share grew 93% to a record $1.39 per share.