5 Best Blue Chip Dividend Stocks to Buy

In this article, we will discuss 5 best blue chip dividend stocks to buy. If you want to read our detailed analysis of dividend investing and its performance over the years, go directly to read 14 Best Blue Chip Dividend Stocks to Buy. 

5. Genuine Parts Company (NYSE:GPC)

Dividend Yield as of November 21: 1.96%

Genuine Parts Company (NYSE:GPC) is an American industrial supplies company that specializes in the distribution of industrial and office products. On November 14, the company declared a quarterly dividend of $0.895 per share, in line with its previous dividend. It is one of the best dividend stocks on our list as it has raised its payouts consistently for the past 66 years. The stock’s dividend yield on November 21 came in at 1.96%.

In the first nine months of the year, Genuine Parts Company (NYSE:GPC) reported growth in its operating cash flow to $1.2 billion, $1 billion in the prior-year period. Its free cash also jumped to $1 billion during this period, from $870 million during the same period last year. The company’s cash generation was strong as it paid $369 million in dividends to shareholders.

At the end of Q3 2022, 36 hedge funds in Insider Monkey’s database owned stakes in Genuine Parts Company (NYSE:GPC), up from 32 in the previous quarter. The collective value of these stakes is over $474 million. With over 1.4 million shares, Arrowstreet Capital was the company’s leading stakeholder in Q3.