NEW YORK - Standard Motor Products, Inc. (NYSE: NYSE:SMP), a manufacturer and distributor in the automotive parts industry, has declared a quarterly dividend of twenty-nine cents ($0.29) per share. The dividend is set to be paid on March 1, 2024, to shareholders who are on record as of February 15, 2024. This move underscores the company's ongoing strategy to deliver shareholder value.
The announcement today aligns with Standard Motor Products' history of providing returns to its investors and reflects the company's financial health and management's confidence in its business operations.
The information in this article is based on a press release.
InvestingPro Insights
As Standard Motor Products (NYSE: SMP) continues its trend of rewarding shareholders, the latest dividend declaration is supported by a solid financial profile. According to real-time data from InvestingPro, the company has a market capitalization of $890.9 million and maintains a healthy P/E ratio of 12.93, reflecting its earnings over the last twelve months as of Q3 2023. Notably, the company has managed to maintain dividend payments for 14 consecutive years, a testament to its consistent performance and commitment to shareholders.
InvestingPro Tips highlight that Standard Motor Products has raised its dividend for three consecutive years, indicating a positive trend in shareholder returns. Additionally, the company's stock is trading near its 52-week high, showcasing investor confidence and a strong return over the last three months, with a 15.15% price total return in that period. For investors interested in further insights and tips, InvestingPro offers additional information on Standard Motor Products, including a comprehensive analysis of its financial health and performance metrics.
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