BLOOMFIELD HILLS, Mich.,
Oct. 19, 2016 /PRNewswire/
-- 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 PAG's 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 Automotive's business, markets, conditions and other
uncertainties, which could affect Penske Automotive's future
performance. These risks and uncertainties are addressed in
Penske Automotive's 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
company's 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
|
Anthony R.
Pordon
|
Executive Vice
President and
|
Executive Vice
President Investor Relations
|
Chief Financial
Officer
|
and Corporate
Development
|
Penske Automotive
Group, Inc.
|
Penske Automotive
Group, Inc.
|
248-648-2810
|
248-648-2540
|
jcarlson@penskeautomotive.com
|
tpordon@penskeautomotive.com
|
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SOURCE Penske Automotive Group, Inc.