Standard Motor Products (SMP) will raise its quarterly dividend by 10.5 percent $0.21 per share in the first quarter of 2018. Last year the dividend was hiked by 11.8 percent.

The increased dividend is payable on March 1, 2018 to stockholders of record on February 15, 2018. The new dividend yield for SMP is 1.8%.

Standard Motor Products, Inc. is a manufacturer and distributor of  premium replacement parts for the engine management and temperature control systems of motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment market. Standard Motor sells its products primarily to automotive aftermarket retailers, program distribution groups, warehouse distributors, original equipment manufacturers and original equipment service part operations in the United States, Canada, Mexico, Europe, Asia and other Latin American countries. The company's brands include Standard, Blue Streak, Intermotor, Standard Diesel, BWD Select, BWD, TechSmart, Tech/Expert, GP Sorensen, LockSmart, FourSeasons, Everco, Hayden Automotive, Pro Source and Factory Air.