Genuine Parts Company (GPC) started from very humble beginnings. It began in 1928, when Carlyle Fraser purchased Motor Parts Depot for $40,000. He renamed it Genuine Parts Company, and it has held that name ever since.

The original Genuine Parts store had annual sales of $75,000, and only 6 employees. Today, Genuine Parts has more than 39,000 employees and annual sales of more than $15 billion.

Genuine Parts has raised its dividend payments for 60 consecutive years. This is one of the longest active streaks of any business. The streak more than qualifies Genuine Parts to be a Dividend Aristocrat…

Dividend Aristocrats are S&P 500 stocks with 25+ consecutive years of dividend increases. You can see the list of all 50 Dividend Aristocrats here. Genuine Parts qualifies to be a Dividend Aristocrat more than twice over. It is in a different league altogether.

In fact, Genuine Parts Company is also a member of the even more exclusive Dividend Kings List – a group of 18 businesses with 50 consecutive years of dividend increases.

Genuine Parts Company has proven it can grow its dividends over a wide variety of economic conditions. Keep reading this article to learn more about the investment prospects of Genuine Parts Company.

Business Overview

Genuine Parts is a distributor of automotive replacement parts, industrial replacement parts, office products, and electrical materials. The business is split into these four categories, each of which generates a significant portion of total annual sales:

The automotive parts group, which represents more than half of Genuine Parts’ total revenue, is comprised of the core NAPA brand.

The industrial parts group sells industrial replacement parts to MRO (maintenance, repair, and operations) and OEM (original equipment manufacturer) customers. These customers are spread across a wide range of industries, including food and beverage, forest products, metals and mining, oil and gas, and pharmaceuticals.