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8-K - LIVE FILING - PENSKE AUTOMOTIVE GROUP, INC. | htm_44842.htm |
EX-99.1 - EX-99.1 - PENSKE AUTOMOTIVE GROUP, INC. | exhibit1.htm |
FOR IMMEDIATE RELEASE
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PENSKE AUTOMOTIVE DECLARES DIVIDEND
Increases Dividend 10% to $0.11 per share
BLOOMFIELD HILLS, MI, April 19, 2012 Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that its Board of Directors has approved a 10% increase in the Companys dividend to $0.11 per share. The dividend is payable on June 1, 2012, to shareholders of record on May 10, 2012.
President Rob Kurnick said, Over the last twelve months the Board of Directors has been pleased to increase the dividend four times. The dividend increase announced today demonstrates the Boards confidence in the sustainability of the auto retail environment and strength of our financial position.
About Penske Automotive
., headquartered in Bloomfield Hills, Michigan, operates 335 retail automotive franchises,
representing 40 different brands and 29 collision repair centers. Penske Automotive, which sells
new and previously owned vehicles, finance and insurance products and replacement parts, and offers
maintenance and repair services on all brands it represents, has 168 franchises in 17 states and
Puerto Rico and 167 franchises located outside the United States, primarily in the United
Kingdom. Penske Automotive is a member of the Fortune 500 and Russell 2000 and has
approximately 16,000 employees.
Caution Concerning Forward Looking Statements
Statements in this press release involve forward-looking statements, including forward-looking
statements regarding Penske Automotive Group, Inc.s future sales potential and outlook. Actual
results may vary materially because of risks and uncertainties that are difficult to predict.
These risks and uncertainties include, among others: economic conditions generally, conditions in
the credit markets and changes in interest rates, adverse conditions affecting a particular
manufacturer, including the adverse impact to the vehicle and parts supply chain due to natural
disasters such as the earthquake and tsunami that struck Japan in March 2011; changes in consumer
credit availability, the outcome of legal and administrative matters, and other factors over which
management has limited control. These forward-looking statements should be evaluated together with
additional information about Penske Automotives business, markets, conditions and other
uncertainties, which could affect Penske Automotives future performance. These risks and
uncertainties are addressed in Penske Automotives Form 10-K for the year ended December 31, 2011,
and its other filings with the Securities and Exchange Commission (SEC). This press release
speaks only as of its date, and Penske Automotive disclaims any duty to update the information
herein.
Find a vehicle: http://www.penskecars.com
Engage Penske Automotive: http://www.penskesocial.com
Like Penske Automotive on Facebook: https://facebook.com/PenskeCars
Follow Penske Automotive on Twitter: https://twitter.com/#!/Penskecarscorp
Visit Penske Automotive on YouTube:
Inquiries should contact:
David K. Jones Executive Vice President and Chief Financial Officer Penske Automotive Group, Inc. 248-648-2800 dave.jones@penskeautomotive.com |
Anthony R. Pordon Executive Vice President Investor Relations and Corporate Development Penske Automotive Group, Inc. 248-648-2540 tpordon@penskeautomotive.com |
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