Standard Motor Products, Inc. Announces Increase in its Quarterly Dividend
Rhea-AI Summary
Standard Motor Products, Inc. (NYSE: SMP) announced an increase in its quarterly common stock dividend from twenty-seven cents to twenty-nine cents per share. This dividend will be payable on March 1, 2023, to shareholders of record on February 15, 2023. This adjustment reflects the company's confidence in its financial health and commitment to returning value to shareholders. The decision was unanimously approved by the Board of Directors, signaling strong performance amidst a competitive automotive parts market.
Positive
- Quarterly dividend increased to $0.29 per share.
- Demonstrates confidence in financial performance.
- Reflects commitment to shareholder returns.
Negative
- None.
News Market Reaction – SMP
In the trading session that priced this news, SMP gained 0.82%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, Feb. 1, 2023 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, announced today that its Board of Directors has approved an increase in its quarterly common stock dividend from twenty-seven cents per share to twenty-nine cents per share, payable on March 1, 2023, to shareholders of record on February 15, 2023.
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SOURCE Standard Motor Products, Inc.