Genuine Parts hikes dividend for 60th consecutive year

Dividend Aristocrat Genuine Parts Company (GPC) will raise its dividend by 6.9%

Genuine Parts Company (GPC) will hike its quarterly dividend to $0.6575 per share, marking 60 consecutive years of dividend increases for the specialty retailer.

Today's press release says that GPC has paid a cash dividend every year since going public in 1948, and 2016 marks the 60th consecutive year of increased dividends paid to shareholders.

Based on a stock price of $89 Genuine Parts currently has an estimated dividend yield of 2.9%.

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