ATLANTA, Feb. 17, 2015 /PRNewswire/ -- Genuine Parts
Company (NYSE: GPC) announced today a 7% increase in the regular
quarterly cash dividend for 2015. The Board of Directors of
the Company, at its February 16, 2015
Board meeting, increased the cash dividend payable to an annual
rate of $2.46 per share compared with
the previous dividend of $2.30 per
share. The quarterly cash dividend of sixty-one and one-half
cents ($.615) per share is payable
April 1, 2015 to shareholders of
record March 6, 2015. GPC has
paid a cash dividend every year since going public in 1948, and
2015 marks the 59th
consecutive year of increased dividends paid to shareholders.
Genuine Parts Company also announced today that the Board of
Directors has elected three new corporate officers.
Robert A. Milstead was named Senior
Vice President Digital, Thomas K.
Davis was named Vice President Supplier Business IT and
Jennifer L. Ellis was named
Corporate Secretary and Associate Counsel.
Mr. Milstead joined the Company in January 2015 and brings with him over 18 years of
experience in digital marketing and eCommerce strategy and
execution, most recently serving as Vice President and Managing
Director for Accenture. Mr. Davis was previously Director of
Information Systems for the Company's Balkamp operations, and has
been with the Company since 2012. Ms. Ellis has been with the
Company since 2008, most recently serving as Assistant Corporate
Secretary and Associate Counsel.
Tom Gallagher, Chairman and CEO
of Genuine Parts Company, commented, "All three of these talented
individuals bring valuable experience and expertise to their new
positions in the organization. Rob's leadership role is
instrumental to our global digital strategy, Tom is a key leader
within our IT team and Jennifer's leadership is essential in
guiding our corporate governance practices. We are pleased to
have these officers on our corporate team and we 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 844-857-1770. The conference ID is 66755202. If
you are unable to participate during the call, a replay of the call
will be available on the Company's website or toll-free at
855-859-2056, ID 66755202, two hours after the completion of the
conference call until 12:00 a.m. Eastern
time on March 4, 2015.
About Genuine Parts Company
Genuine Parts Company is a distributor of automotive replacement
parts in the U.S., Canada,
Mexico and Australasia. The
Company also distributes industrial replacement parts in the U.S.,
Canada and Mexico through its Motion Industries
subsidiary. S. P. Richards Company, the Office Products
Group, distributes business products in the U.S. and Canada. The Electrical/Electronic Group, EIS,
Inc., distributes electrical and electronic components throughout
the U.S., Canada and
Mexico.
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SOURCE Genuine Parts Company