Genuine Parts Company raises dividend for 62nd year

Dividend Aristocrat Genuine Parts Company (GPC) will raise its annual dividend to $2.88 per share, marking the 62nd consecutive year of dividend increases.

The quarterly dividend will be increased by 6.7 percent to $0.72 per share by GPC.

The quarterly cash dividend of seventy-two cents ($0.72) per share is payable April 2, 2018 to shareholders of record March 9, 2018. GPC has paid a cash dividend every year since going public in 1948, and 2018 marks the 62(nd) consecutive year of increased dividends paid to shareholders.

Genuine Parts currently has a 2.7% dividend yield. The stock closed down 5.2 percent today, erasing the YTD gain. In 2017 GPC hiked its dividend to $0.675 quarterly (+2.7%).

Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Germany and Poland. The Company also distributes industrial replacement parts and electrical and electronic materials in the U.S., Canada and Mexico through its Motion Industries and EIS, Inc. subsidiaries. S.P. Richards Company, the Business Products Group, distributes a variety of business products in the U.S. and in Canada.