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8-K - LIVE FILING - PENSKE AUTOMOTIVE GROUP, INC. | htm_54149.htm |
FOR IMMEDIATE RELEASE |
PENSKE AUTOMOTIVE INCREASES DIVIDEND
Shareholders to Receive $0.29 per Share
BLOOMFIELD HILLS, MI, October 19, 2016 Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, today announced that its Board of Directors has approved an increase in the cash dividend to $0.29 per share for the third quarter of 2016.
Commenting on the dividend increase, Penske Automotive Group President Robert H. Kurnick, Jr., said, The diversification of our business continues to be a core strength, contributing to our strong cash flow. As a result of PAGs continued performance, the Board of Directors is pleased to offer an increase in the quarterly dividend.
The dividend is payable on December 1, 2016, to shareholders of record on November 10, 2016.
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 and foreign currency exchange rates, adverse
conditions affecting a particular manufacturer, including the adverse impact to the vehicle and
parts supply chain due to natural disasters, recalls 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, 2015, 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.
About Penske Automotive
Penske Automotive Group, Inc., (NYSE:PAG) headquartered in Bloomfield Hills, Michigan, is
an international transportation services company that operates automotive and commercial truck
dealerships principally in the United States, Canada and Western Europe, and distributes commercial
vehicles, diesel engines, gas engines, power systems and related parts and services principally in
Australia and New Zealand. PAG employs more than 23,000 people worldwide and is a member of the
Fortune 500 and Russell 2000. For additional information, visit the companys website at
www.penskeautomotive.com.
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: http://www.youtube.com/penskecars
Inquiries should contact:
J. D. Carlson Executive Vice President and Chief Financial Officer Penske Automotive Group, Inc. 248-648-2810 jcarlson@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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