Many income investors, especially those focused on the best high dividend stocks, often rely on slow but steadily growing companies to make up the core of their diversified dividend portfolios.
And among such companies, certain dividend kings, stocks with 50+ consecutive years of payout growth, represent some of the best time-tested, low risk names you can find on Wall Street.
Let’s take a look at Genuine Parts Company (GPC), a business that’s seen sales and profit growth in 84 and 73 of the past 89 years, respectively, and which has rewarded dividend lovers with an impressive 61 straight years of dividend increases.
Despite the company’s attractive long-term history, Genuine Parts Company’s stock trades at an 18-month low, driven by disappointing auto industry trends and fears over Amazon’s (AMZN) entry into the automotive aftermarket parts industry.
Let’s take a closer look at this dividend king to learn more about the potential headwinds it faces and whether or not the stock’s current weakness could be an opportunity for long-term dividend growth investors.