Dividend Increase: GPC

One of my dividend-growth stocks, Genuine Parts Company (GPC), increased its quarterly dividend by 10.0% today, raising the payment from $0.45 to $0.495 per share. This puts the company on track for its 56th consecutive year of dividend growth, which is pretty amazing. Given that I own 50 shares of GPC, my quarterly dividend increases from $22.50 to $24.75, which will add an extra $9.00 to my annual dividend income. This dividend increase also boosts my yield on cost to 3.67%.