Genuine Parts (NYSE:GPC) has elected to stick to its existing dividend policy. The company this week declared its latest common stock distribution, which is to be $0.5375 per share paid on Oct. 1 to shareholders of record as of Sept. 6.

That amount matches both of the firm's two preceding distributions, the most recent of which was paid at the beginning of last month. Prior to that, Genuine Parts paid $0.495 per share.

The company is a reliable and steady dividend payer. It has handed out a distribution every year since going public in 1948.

The just-declared dividend annualizes to $2.15 per share. That yields 2.8% at Genuine Parts' stock price at this writing of $78.13.

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