Dividend Increase Announcement
On February 21st, Genuine Parts announced a dividend increase of 6.1%. This will increase their dividend from $0.90 to $0.95. It is payable on April 3rd for shareholders of record on March 3rd. The new dividend represents an annualized dividend amount of $3.80 per share as compared to the current annualized dividend amount of $3.58 per share.
Genuine Parts Dividend Information
Annual Dividend: $3.80
Dividend Growth History: 67 years
Dividend Yield: 2.18%
Dividend Increase Effect
I am currently holding 13.474 shares of Genuine Parts stock in the More Dividends portfolio. With this 6.1% increase it will add an additional $2.96 to my projected annual dividend income and this doesn’t even take into account the compounding factor! That brings the new grand total up to $2,440.40.
This dividend increase makes a little bit of an impact on the portfolio. It isn’t because it is a very large position, it is really just because of the size of the increase.
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Current Stock Position
Once upoon a time this was one of my larger positions. Since that time, I have built much larger positions in other stocks.
The company has been in my portfolio for many years. This was one of the stocks that I used the Peter Lynch method of investing in what you know. It has paid off well for me since that time.
I would love to this position but it will all be about waiting for the right time. The share price has continued to go up over time and with dividend increases like this one who can blame it.
While I wait for the share price to come down, I will continue to let these dividends compound and increase!
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
Realty Income Increases Their Dividend by 2.4% in 2023
Coca Cola Increases Their Dividend by 4.5% in 2023
Walmart Increases Their Dividend by 1.8% in 2023
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