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Genuine Parts

(GPC) - Get Genuine Parts Company Report

posted fourth-quarter earnings that barely budged from year-ago levels but matched analysts' expectations.

The automotive parts distributor had net earnings of $105.3 million, or 61 cents a share. In the year-ago quarter, it earned $108.3 million, or 61 cents a share. The seven analysts polled by

First Call/Thomson Financial

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offered a consensus estimate of 61 cents a share.

The company, which is based in Atlanta, saw a 3% increase in sales to $2.02 billion in the fourth quarter, up from $2.02 billion in the year-ago period.

Genuine Parts said it was increasing its quarterly cash dividend to an annual rate of $1.14 a share, up from $1.10. Shareholders of record as of March 9 will receive a quarterly dividend of 28.5 cents a share, payable on April 2.

Shares of Genuine Parts closed at $28.06, down 76 cents, or 2.8%, in Tuesday trading on the

New York Stock Exchange