Net income from continuing operations was $171.6 million, or a diluted earnings per share of $1.18.
The company also reported that 2021 marks the 65th consecutive year of increased dividends paid to shareholders.
Vaca Valley Auto Parts has been a successful auto parts store in Fairfield, California, since 1974.
The board of directors declared a regular quarterly cash dividend of $0.79 per share on the company’s common stock.
GPC intends to use the net proceeds from this offering to repay outstanding indebtedness.
Net income from continuing operations was $232.9 million, or a diluted earnings per share of $1.61.
The Automotive Group had a strong recovery in May and June led by sales volumes in Europe and Australasia that returned to pre-COVID-19 levels.
GPC expects to use the net cash proceeds from the transactions to enhance its cash position.
The company plans to release first quarter 2020 earnings on May 6.
Murray “Tripper” Briggs has joined the company as vice president, strategic business transformation.
In 2019, S.P. Richards Canada’s approximate annual revenues were $50 million.
As executive VP and chief transformation officer, William Stengel II has responsibility for the effective management of GPC’s short- and long-term transformation including strategic growth, operating efficiency and cost-saving initiatives across the organization.