Genuine Parts Company (GPC ) has one of the most impressive
dividend growth histories in the market. With 62 years of dividend growth,
Genuine Parts has the fourth longest dividend growth streak of any U.S.
company. Because of this impressive dividend track record, Genuine Parts
qualifies as a Dividend Kin.
Dividend Kings are those companies that have managed to
increase their dividend for at least 50 consecutive years. You can see the full
list of all 25 Dividend Kings here.
Genuine Parts is probably one of the least followed Dividend
Kings out there. However, Genuine Parts’ business, dividend history, yield, and
valuation make it a buy for dividend growth investors.
Carlyle Fraser created the Genuine Parts Company that we
know today when he purchased Motor Parts Depot for $40,000 in 1928. He gave the
company the name it has today. What started as a fairly modest investment 90
years ago has become a publicly owned company with a market cap of almost $13
billion.
These days, Genuine Parts is a leading distributor of
automotive and industrial replacement parts.
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