4 Safe Dividend Auto Stocks That Should be on Your Watchlist

Looking beyond the familiar dividend stocks in the auto industry like Ford F and General Motors GM, whose attractive yields are encouraging but payouts do not appear too sustainable amid macro-economic headwinds, we focus on four stocks with strong dividend growth history. Although these stocks do not necessarily have the highest yields, they have an impressive dividend track record. Based on the stocks’ prospects, their payout appears affordable and safe. Notably, each of the stocks has announced dividend hikes in this month...

Penske Automotive Group PAG: On Feb 12, the firm raised quarterly cash dividend to 42 cents a share. This marked the 35th straight quarter of dividend hike, underscoring the company’s commitment of returning capital to its shareholders. Group 1 Automotive, Inc. GPI: On Feb 18, Group 1 raised fourth-quarter 2019 dividend by 3.4% sequentially to 30 cents a share. Genuine Parts Company GPC: On Feb 18, Genuine Parts Company raised its 2020 dividend by 4%. Importantly, the auto parts company has paid dividend every year since its IPO in 1948. Lear Corporation LEA: On Feb 6, Lear hiked quarterly payout to 77 cents from 75 cents, marking the ninth consecutive annual dividend increase by the company.

Source: Yahoo Finance

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