Standard Motor Products (SMP) will raise its quarterly dividend by 8.7 percent $0.25 per share in the first quarter of 2020. This marks the 10th consecutive year of dividend increases by the automotive replacement parts manufacturer and distributor.

The next dividend is payable on March 2, 2020, to stockholders of record on February 14, 2020. A new annual dividend of $1.00 per share yields 2.1% at a stock price of $48.58.

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.