Genuine Parts Company Announces 67th Consecutive Year of Increased Dividends

Rhea-AI Summary

Genuine Parts Company (NYSE: GPC) announced a 6% increase in its quarterly cash dividend, raising the annual rate to $3.80 per share from $3.58 in 2022. The quarterly dividend of $0.95 is set to be paid on April 3, 2023, to shareholders of record as of March 3, 2023. This marks the 67th consecutive year of increased dividends, showcasing the company's strong commitment to returning value to shareholders. Genuine Parts has maintained a cash dividend every year since going public in 1948.

Positive

• 6% increase in quarterly cash dividend.
• Annual dividend raised to $3.80 per share from $3.58.
• 67 consecutive years of increased dividends demonstrates financial stability.

Negative

• None.

News Market Reaction – GPC

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-0.25% Session move

In the trading session that priced this news, GPC declined 0.25%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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2023 Dividend Increases 6%

ATLANTA, Feb. 21, 2023 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC) announced today a 6% increase in its regular quarterly cash dividend for 2023. At its February 21, 2023 meeting, GPC's Board of Directors increased the cash dividend payable to an annual rate of $3.80 per share from $3.58 per share in 2022. The quarterly cash dividend of ninety-five cents ($0.95) per share is payable April 3, 2023 to shareholders of record March 3, 2023. GPC has paid a cash dividend every year since going public in 1948, and 2023 marks the 67^th consecutive year of increased dividends paid to shareholders.

About Genuine Parts Company
Founded in 1928, Genuine Parts Company is a global service organization engaged in the distribution of automotive and industrial replacement parts. The company's Automotive Parts Group distributes automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the United Kingdom, Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal. The company's Industrial Parts Group distributes industrial replacement parts in the U.S., Canada, Mexico and Australasia. In total, the company serves its global customers from an extensive network of more than 10,000 locations in 17 countries and has approximately 58,000 employees. Further information is available at www.genpt.com.

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SOURCE Genuine Parts Company

FAQ

What is the new dividend amount for GPC in 2023?

The new dividend amount for GPC in 2023 is $3.80 per share.

When is the GPC dividend payment date?

The GPC dividend payment date is April 3, 2023.

How long has GPC been increasing its dividends?

GPC has increased its dividends for 67 consecutive years.

What was the previous dividend amount for GPC before the increase?

The previous dividend amount for GPC was $3.58 per share.