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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