BLOOMFIELD HILLS, Mich.,
May 10, 2017 /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
$0.31 per share for the first quarter
of 2017.
Commenting on the dividend, Penske Automotive Group President
Robert H. Kurnick, Jr., said, "Based
on the strength of the company's financial performance in the first
quarter of 2017, the Board of Directors is pleased to offer an
increase in the quarterly dividend, representing the
24th consecutive quarterly increase for PAG's
shareholders."
The dividend is payable on June 1,
2017, to shareholders of record on May 22, 2017.
Caution Concerning Forward Looking Statements
Statements in this press release may involve 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, 2016, 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 25,000 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
Chief Financial Officer
|
Executive Vice
President Investor Relations and
Corporate Development
|
Penske Automotive
Group,
Inc.
|
Penske Automotive
Group, Inc.
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248-648-2810
|
248-648-2540
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jcarlson@penskeautomotive.com
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tpordon@penskeautomotive.com
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SOURCE Penske Automotive Group, Inc.