Genuine Parts Co. signs $1 billion term loan amendment, declares $1.0625 dividend
On April 28, 2026, Genuine Parts Company amended its syndicated credit agreement to add a $500 million Initial Term Loan A Facility and a $500 million Delayed Draw Term Loan Facility, both maturing October 28, 2027. The same day, the Board declared a regular quarterly dividend of $1.0625 per share, payable July 2, 2026, which shows the new borrowing sits alongside continued cash returns to shareholders.
Key points
- Two term loan facilities of $500 million each, with interest at SOFR plus 0.875% to 1.500% or a base rate plus 0.000% to 0.500%, based on the company's senior unsecured credit rating
- Facilities mature October 28, 2027
- Quarterly dividend of $1.0625 per share, payable July 2, 2026 to shareholders of record on June 5, 2026
- At the April 27, 2026 annual meeting, shareholders elected all 11 director nominees, approved named executive officer pay on an advisory basis, and ratified Ernst & Young LLP as auditor for fiscal 2026
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:11 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 28, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.