Penske Automotive Group, Inc. (PAG), a leading international transportation services company and renowned automotive and commercial truck retailer, has exciting news for its shareholders. The company's Board of Directors has approved a significant increase in its quarterly dividend by $0.06 per share, representing a 9% surge, bringing the new dividend to $0.72 per share. This move comes as a testament to the company's robust financial performance, solid balance sheet, and operational strength, providing an opportunity to reward its loyal shareholders.

‍

Positive Outlook and Dividend Increase

PAG's President, Robert Kurnick, Jr., expressed his delight in announcing the dividend increase and highlighted the company's positive financial position. The continuous strong cash flow, healthy balance sheet, and successful operations have enabled Penske Automotive Group to take this step to enhance shareholder value. This decision reflects the company's commitment to sharing its success with its investors while maintaining a focus on steady growth.

‍

Dividend Payment Date

Shareholders eagerly anticipating the dividend increase will not have to wait long. The dividend is scheduled to be paid on September 1, 2023. To be eligible to receive the dividend, shareholders must be on record as of August 10, 2023. This timeline ensures that investors who own shares before the specified record date will receive the increased dividend payout.

‍

Rewarding Shareholders

Dividends are a significant way for companies to reward their shareholders, and Penske Automotive Group's decision to increase the dividend demonstrates its dedication to providing value to its investors. By distributing a higher dividend, PAG acknowledges the trust and confidence its shareholders have placed in the company, fostering a positive and mutually beneficial relationship.