5 Best Dividend-Paying Stocks To Buy Now

In this article, we discuss 5 best dividend-paying stocks to buy now. If you want to read our detailed analysis of dividend stocks and their returns over the years, go directly to read 11 Best Dividend-Paying Stocks To Buy Now. 

5. Genuine Parts Company (NYSE:GPC)

Dividend Yield as of July 5: 2.69%

Genuine Parts Company (NYSE:GPC) is an American company that is engaged in the distribution of automotive replacement parts, office products, and related electronic materials.

Genuine Parts Company (NYSE:GPC) went public in 1948 and has been paying dividends since then. In February 2022, the company marked its 66th consecutive year of dividend growth. In the first quarter of 2022, the company generated $320.7 million in free cash flow, up from $252.5 million during the same period last year. Genuine Parts Company (NYSE:GPC) currently offers a quarterly payout of $0.895 per share, with a yield of 2.69%, recorded on July 5.

In May, BofA upgraded Genuine Parts Company (NYSE:GPC) to Neutral with a $133 price target, highlighting the stock’s fair valuation. The firm further appreciated the company’s business and a very long track of dividend growth.

As of the quarter ended March 2022, 29 hedge funds held positions in Genuine Parts Company (NYSE:GPC), the same as in the previous quarter. The collective value of stakes owned by these hedge funds is over $457 million.