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
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