Standard Motor Products, Inc. Announces Increase in its Quarterly Dividend

Rhea-AI Summary

Standard Motor Products, Inc. (NYSE: SMP) announced an increase in its quarterly common stock dividend from twenty-seven cents to twenty-nine cents per share. This dividend will be payable on March 1, 2023, to shareholders of record on February 15, 2023. This adjustment reflects the company's confidence in its financial health and commitment to returning value to shareholders. The decision was unanimously approved by the Board of Directors, signaling strong performance amidst a competitive automotive parts market.

Positive

• Quarterly dividend increased to $0.29 per share.
• Demonstrates confidence in financial performance.
• Reflects commitment to shareholder returns.

Negative

• None.

NEW YORK, Feb. 1, 2023 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, announced today that its Board of Directors has approved an increase in its quarterly common stock dividend from twenty-seven cents per share to twenty-nine cents per share, payable on March 1, 2023, to shareholders of record on February 15, 2023. 

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SOURCE Standard Motor Products, Inc.

FAQ

What is the new dividend amount for SMP?

The new dividend amount for Standard Motor Products is $0.29 per share.

When will the SMP dividend be paid?

The SMP dividend will be paid on March 1, 2023.

What is the record date for the SMP dividend?

The record date for the SMP dividend is February 15, 2023.

How often does SMP pay dividends?

SMP pays dividends quarterly.

Is the dividend increase sustainable for SMP?

The sustainability of the dividend increase will depend on the company's future financial performance.