JUST ANNOUNCED: Genuine Parts Increases Their Dividend by 3.6%
Dividend Increase Announcement
On February 18th, Genuine Parts announced a dividend increase of 3.6%. This will increase their dividend per quarter from $0.7625 to $0.79. It is payable on April 1st for shareholders of record on March 6th. The new quarterly dividend represents an annualized dividend amount of $3.16 per share as compared to the current annualized dividend amount of $3.05 per share.
Genuine Parts Dividend Information
Annual Dividend: $3.16
Dividend Yield: 3.28%
Dividend Growth History: 64 years
Payout Ratio: 51.71%
Dividend Increase Affect On More Dividends
I am currently holding 6.412 shares of Genuine Parts in the More Dividends portfolio. With this 3.6% increase it will add an additional $0.70 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Genuine Parts is a good company with a very impressive streak of increasing their dividend. This is not a recession proof business but they have managed to increase their dividend during other recessionary periods.
I would love to be able to add to this position but it definitely would not be up at the top of my list only because they will be affected negatively when a recession happens.
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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I noticed that you said that you have 6.412 shares. How do you get fractional shares? It always annoys me when I have loose change left in my broker and cant buy a full share.
The fractional shares were acquired through dividend reinvestment. I don’t think that my broker will let me buy fractional shares but I have never tried. Thanks for stopping by derek!