Standard Motor Products, Inc. (SMP) Plans Dividend Increase – $0.23 Per Share

Standard Motor Products, Inc. (NYSE:SMP) declared a quarterly dividend on Tuesday, February 5th, Wall Street Journal reports. Investors of record on Friday, February 15th will be paid a dividend of 0.23 per share by the auto parts company on Friday, March 1st. This represents a $0.92 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, February 14th. This is an increase from Standard Motor Products’s previous quarterly dividend of $0.21.

Standard Motor Products has raised its dividend payment by an average of 11.9% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Standard Motor Products has a payout ratio of 35.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Standard Motor Products to earn $3.41 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 27.0%.

Shares of SMP stock opened at $49.70 on Friday. Standard Motor Products has a 12-month low of $42.50 and a 12-month high of $56.54. The company has a market capitalization of $1.11 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 2.43 and a beta of 1.08.

A number of brokerages recently issued reports on SMP. ValuEngine lowered Standard Motor Products from a “buy” rating to a “hold” rating in a report on Saturday, February 2nd. Zacks Investment Research reissued a “sell” rating on shares of Standard Motor Products in a report on Thursday, November 15th.

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Standard Motor Products Company Profile

Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.

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Dividend History for Standard Motor Products (NYSE:SMP)

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