A Great Year For Genuine Parts Company (GPC)

The company projected that its 2011 earnings per share would hit $3.22-3.32, versus a consensus of $3.30 per share, while its revenues are expected to increase 6-8% for the year. The automotive company is making gross margins its highest priority during the coming year, saying that it would tighten and manage its expenses in order to boost its earnings per share.

Genuine Parts, parent company of Napa Automotive Parts, said the board increased the cash dividend payable to an annual rate of $1.80 per share compared with the previous dividend of $1.64 per share. The quarterly cash dividend of 45 cents per share is payable April 1 to shareholders of record March 11. GPC has paid a cash dividend every year since going public in 1948.

Source: Daily News Pulse

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