Tuesday, February 19, 2013
Dividend Increase: GPC
Genuine Parts Company (GPC) is increasing its quarterly dividend by 8.6%, from $0.495 to $0.5375 per share, putting the company on track for its 57th consecutive year of dividend growth (press release). Given that I own 50 shares of GPC, my quarterly dividend increases from $24.75 to $26.88, which will add an extra $8.52 to my annual dividend income. This dividend increase also boosts my yield on cost to 3.99%. Thus far this year, there have been dividend increases for 9 of the 27 dividend growth stocks in my portfolio.