Why Genuine Parts (GPC) is a Great Dividend Stock Right Now

Company Overview - Genuine Parts Company (GPC) is based in Atlanta and operates in the Auto-Tires-Trucks sector, with a year-to-date share price change of 4.83% [3] - The company currently pays a dividend of $1 per share, resulting in a dividend yield of 2.76%, which is slightly below the Automotive - Replacement Parts industry's yield of 2.78% and significantly above the S&P 500's yield of 1.58% [3] Dividend Performance - The annualized dividend of Genuine Parts is $4, reflecting a 5.3% increase from the previous year [4] - Over the past five years, the company has raised its dividend five times, achieving an average annual increase of 6% [4] - The current payout ratio stands at 43%, indicating that the company distributes 43% of its trailing 12-month earnings per share as dividends [4] Earnings Outlook - Genuine Parts is projected to experience earnings growth in the current fiscal year, with the Zacks Consensus Estimate for 2024 at $9.92 per share, representing a 6.32% increase from the previous year [5] Investment Considerations - The company is viewed as a compelling investment opportunity due to its attractive dividend and strong Zacks Rank of 2 (Buy) [7]