BLOOMFIELD HILLS, Mich.,
July 26, 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
$0.32 per share for the second
quarter of 2017.
Commenting on the dividend, Penske Automotive Group President
Robert H. Kurnick, Jr., said, "For
the 25th consecutive quarter, the Board of Directors is
pleased to offer an increase in the quarterly dividend for PAG's
shareholders. This increase continues to demonstrate the confidence
we have in our diversified business model."
The dividend is payable on September 1,
2017, to shareholders of record on August 10, 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/penskesocial
Follow Penske Automotive on Instagram:
https://www.instagram.com/penskecars/
Visit Penske Automotive on YouTube:
http://www.youtube.com/penskecars
Inquiries should
contact:
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|
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J. D.
Carlson
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Anthony R.
Pordon
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Executive Vice
President and
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Executive Vice
President Investor Relations
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Chief Financial
Officer
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and Corporate
Development
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Penske Automotive
Group, Inc.
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Penske Automotive
Group, Inc.
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248-648-2810
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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.