By Colin Kellaher
Genuine Parts has raised its quarterly dividend by 3%, to $1.03 from $1.00, marking the 69th straight year that the distributor of automotive and industrial replacement parts has boosted its payout.
The new dividend, equal to $4.12 a year, represents an annual yield of about 3.3% based on Friday's closing price of $124.90, up from 3.2%.
The increase keeps Genuine Parts' spot in the S&P 500 Dividend Aristocrats Index, whose 69 members have paid a higher dividend for at least 25 straight years, as well as its place on the smaller list of dividend kings--those who have boosted their dividends annually for at least a half-century. That group currently counts 54 members, according to website Sure Dividend.
The Atlanta company on Tuesday said the increased dividend is payable April 2 to shareholders of record March 7.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 18, 2025 07:23 ET (12:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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