ATLANTA, Feb. 20, 2018 /PRNewswire/ -- Genuine Parts
Company (NYSE: GPC) announced today a 7% increase in the regular
quarterly cash dividend for 2018. The Board of Directors of
the Company, at its February 19, 2018
Board meeting, increased the cash dividend payable to an annual
rate of $2.88 per share compared with
the previous dividend of $2.70 per
share. The quarterly cash dividend of seventy-two cents ($0.72) per share is payable April 2, 2018 to shareholders of record
March 9, 2018. GPC has paid a
cash dividend every year since going public in 1948, and
2018 marks the 62nd
consecutive year of increased dividends paid to shareholders.
Genuine Parts Company also announced today that its Board of
Directors approved two corporate officer changes, effective
immediately. Napoleon B. Rutledge,
Jr. was named Senior Vice President of Finance, and
Derek B. Goshay was appointed Vice
President of Safety & Sustainability. Previously, Mr. Rutledge
was Vice President of Finance and has served the Company in a
variety of finance and accounting roles for 18 years, including
eight years as an officer. Mr. Goshay was most recently the Senior
Vice President of Human Resources for EIS and has served in similar
roles across several of Genuine Parts' businesses in his 15 years
with the Company.
Paul Donahue, President and Chief
Executive Officer of Genuine Parts Company, commented, "Both
Napoleon and Derek are well qualified and deserving of their new
leadership roles within the Company. Napoleon's promotion further
strengthens our Finance team and Derek's valuable experience
enhances our corporate initiatives regarding Safety and
Sustainability. We know they will do an outstanding job and
look forward to their future contributions."
Genuine Parts Company plans to release Fourth Quarter and
Year-End Earnings later this morning. Management will also
conduct a conference call at 11:00 a.m.
Eastern time. The public may access the call on the
Company's website, www.genpt.com, by clicking "Investors", or by
dialing 800-289-0438. The conference ID is 3643063. If
you are unable to participate during the call, a recording of the
call will be available on the Company's website or toll-free at
844-512-2921, ID 3643063, two hours after the completion of the
conference call until 12:00 a.m. Eastern
time on March 6, 2018.
About Genuine Parts Company
Genuine Parts Company is a
distributor of automotive replacement parts in the U.S.,
Canada, Mexico, Australasia, France, the U.K., Germany and Poland. The Company also distributes
industrial replacement parts and electrical and electronic
materials in the U.S., Canada and
Mexico through its Motion
Industries and EIS, Inc. subsidiaries. S.P. Richards Company, the
Business Products Group, distributes a variety of business products
in the U.S. and in Canada.
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SOURCE Genuine Parts Company