Their strong balance sheets set them apart: Genuine Parts and Stanley Black & Decker

Article Excerpt

Like other top industrial stocks, Genuine and Stanley have strong balance sheets to help them cope with economic shocks during the COVID-19 pandemic. Moreover, that stability should spur more dividend hikes for Genuine and Stanley investors in 2021 as the pandemic eases. GENUINE PARTS CO. $99 is a buy. The company (New York symbol GPC; Income-Growth Payer Portfolio, Manufacturing & Industry sector; Shares o/s: 144.3 million; Market cap: $14.3 billion; Dividend yield: 3.2%; Dividend Sustainability Rating: Above Average; www.genpt.com) is a leading seller of replacement auto parts. It has 1,100 company-owned stores (under the famous NAPA banner) and independent outlets in North America, Europe, Australia and New Zealand. Genuine also distributes industrial parts and electrical equipment. Starting with the April 2020 payment, Genuine raised your quarter dividend by 3.6%. Investors now receive $0.79 a share instead of $0.7625. The new annual rate of $3.16 offers you an appealing 3.2% yield. Investors have now enjoyed an annual dividend increase for 64 consecutive years. The company recently sold its…