Genuine Parts Increases Their Dividend by 3.2% In 2021
Dividend Increase Announcement
On February 16th, Genuine Parts announced a dividend increase of 3.2%. This will increase their dividend per quarter from $0.79 to $0.815. It is payable on April 1st for shareholders of record on March 5th. The new quarterly dividend represents an annualized dividend amount of $3.26 per share as compared to the current annualized dividend amount of $3.16 per share.
Genuine Parts Dividend Information
Annual Dividend: $3.26
Dividend Yield: 3.24%
Dividend Growth History: 65 years
Payout Ratio: 63%
Dividend Increase Affect On More Dividends
I am currently holding 12.808 shares of Genuine Parts in the More Dividends portfolio. With this 3.2% increase it will add an additional $1.28 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Genuine Parts has proved to be a great position for me. Years ago, I employed a strategy by Peter Lynch that involved me investing in what I knew.
At the time, I had begun doing business with a company called Motion Industries. When I saw how their business was structured I began to research more and that led me to this company.
Since starting the position, I have taken an opportunity to double the position. I would love another chance to add to this position but I would need the share price to drop down below my cost basis. Until this time, I will choose to remain patient.
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
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