Penske Automotive Group, Inc. (NYSE: PAG) has announced an increase in its quarterly dividend to $1.26 per share, marking a 3.3% increase or $0.04 per share from the previous period. This represents the company’s 18th consecutive quarterly increase. The dividend is payable on June 3, 2025, to shareholders of record as of May 27, 2025.
Additionally, the company's board of directors has authorized an additional $250 million in securities repurchase authorization, bringing the total current securities repurchase authorization to $295.8 million. Under this authorization, the company may make repurchases of its outstanding common stock or debt through various means such as on the open market, in privately negotiated transactions, via a tender offer, through a pre-arranged trading plan, pursuant to the terms of an accelerated share repurchase program, or by other means.
Penske Automotive Group, Inc. is a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers. The company operates dealerships in the United States, the United Kingdom, Canada, Germany, Italy, Japan, and Australia. It is also one of the largest retailers of commercial trucks in North America for Freightliner.
Penske Automotive Group, Inc. employs over 28,700 people worldwide and owns 28.9% of Penske Transportation Solutions ("PTS"), a business that manages one of the largest, most comprehensive, and modern trucking fleets in North America, with over 428,000 trucks, tractors, and trailers under lease, rental, and/or maintenance contracts.
For additional information, visit the company's website at www.penskeautomotive.com. As a result of these announcements, the company's shares have moved 0.44% on the market, and are now trading at a price of $166.54. Check out the company's full 8-K submission here.
