NEW YORK -- Standard Motor Products' board of directors has approved an increase in its quarterly common stock dividend from 5 cents per share to 7 cents per share.
The dividend will be payable on March 1, to stockholders of record on Feb. 15, the replacement parts manufacturer and distributor said.
"Our board's decision to increase the dividend reflects our confidence in the future and the importance of delivering returns to our investors," said Lawrence Sills, Standard Motor Products' chairman and CEO.
