Genuine Parts Increases Their Dividend by 10% in 2022 !!!
Dividend Increase Announcement
On February 14th, Genuine Parts announced a dividend increase of 10%. This will increase their dividend per quarter from $0.815 to $0.895. It is payable on April 1st for shareholders of record on March 4th. The new quarterly dividend represents an annualized dividend amount of $3.58 per share as compared to the current annualized dividend amount of $3.26 per share.
Genuine Parts Dividend Information
Annual Dividend: $3.58
Dividend Growth History: 66 years
Dividend Increase Effect
I am currently holding 13.145 shares of Genuine Parts stock in the More Dividends portfolio. With this 10% increase it will add an additional $4.21 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Current Stock Position
I started this position several years ago when I first learned about a company called Motion Industries. I learned that they were a good company that treated they’re customers fairly. Upon learning about this company, I became very interested in which company owned Motion Industries. That search led me to Genuine Parts.
When I learned about Genuine Parts it didn’t take me long to learn that they also owned Napa. They had a great history of increasing their dividends so I decided to invest.
If I am remembering correctly, I think I have added onto this position once since I first started it. I would love the opportunity to add more to this position but I will wait until the share price comes back down around my cost basis.
Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉
Do you currently hold any stock in Genuine Parts? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
-Jason from MoreDividends.com
Recent Dividend Increases in Portfolio
Archer Daniels Midland Increases Their Dividend by 8.1% in 2022 !!!
Wells Fargo Increases Their Dividend by 25% in 2022 !!!
3M Increases Their Dividend by 0.7% in 2022 !!!
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GENUINE PARTS, INC. ( ) is pleased to announce that it intends to pay an additional $1.9 billion in future quarterly dividends on its Class B common shares, or approximately 10%. The ex-dividend date for all outstanding shares of the company will be 6:00 AM ET on August 26, 2019.
Over the last year, GENUINE PARTS has had a strong financial performance as a result of continued market growth including an 11% growth in its total revenue for the fiscal year ended June 30, 2019 from a year ago. Moreover, the company’s net income also increased almost 14% YoY to million dollars in its fiscal year, representing net interest income of nearly 30%. In the first quarter of 2017, GENUINE PARTS reported second quarter earnings of which represented 12% growth versus the same period of the prior fiscal year, although these were adjusted EBITDA, thus it was not necessarily due solely to higher sales or better margin operating performance. For the fiscal year ending March 31, 2019, GENUINARY PARTS reported Net Income of million dollars representing 8% increase. Additionally, GENUINARY PARTS experienced an accelerated sales growth rate of 19% Yo…
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