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8-K - LIVE FILING - PENSKE AUTOMOTIVE GROUP, INC. | htm_49196.htm |
FOR IMMEDIATE RELEASE
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PENSKE AUTOMOTIVE INCREASES DIVIDEND TO $0.18 PER SHARE
BLOOMFIELD HILLS, MI, January 28, 2014 Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, today announced that its Board of Directors has approved a cash dividend of $0.18 per share for the fourth quarter of 2013. The dividend is payable on March 3, 2014, to shareholders of record on February 10, 2014.
Penske Automotive Group President Robert H. Kurnick, Jr., said, Our Board of Directors is pleased to offer our shareholders a 5.9% increase in the quarterly dividend to $0.18. The increase in the dividend reflects the confidence we have in the strength of the automotive retail market and our ability to continue growing our overall business.
About Penske Automotive
Penske Automotive Group, Inc., (NYSE:PAG) headquartered in Bloomfield Hills, Michigan, is
an international transportation services company, operating retail automotive dealerships, Hertz
car rental franchises and commercial vehicle distribution. The company currently operates
principally in the United States, Western Europe, Australia and New Zealand, employs approximately
17,800 people worldwide and is a member of the Fortune 500 and Russell 2000. For additional
information, visit the companys website at www.penskeautomotive.com.
Caution Concerning Forward Looking Statements
Statements in this press release may 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 or other disruptions that interrupt the supply of vehicles or parts to us; 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, 2012,
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:
Follow Penske Automotive on Twitter: https://twitter.com/#!/Penskecarscorp
Visit Penske Automotive on YouTube: http://www.youtube.com/penskecars
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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