Penske Automotive Group Inc. Announces Dividend Increase

In a move that underscores its financial stability and commitment to shareholder returns, Penske Automotive Group Inc. has announced a 4.8% increase in its quarterly dividend. This marks the 19th consecutive quarterly increase, a testament to the company’s robust performance in the consumer discretionary specialty retail sector. The new dividend rate is set at $1.32 per share, reflecting the company’s confidence in its ongoing operations and future prospects.

Penske Automotive Group, a prominent player in the automotive industry, operates franchised automobile dealerships across the United States, Puerto Rico, and the United Kingdom. The company’s portfolio includes both new and used vehicles, alongside maintenance and repair services for all brands it represents. This strategic diversification has positioned Penske as a leader in the automotive and commercial truck retail markets.

The decision to increase the dividend comes at a time when the company’s stock is trading at $170.8, slightly below its 52-week high of $186.33 but well above the 52-week low of $134.05. With a market capitalization of $10.86 billion and a price-to-earnings ratio of 11.57, Penske Automotive Group continues to demonstrate strong financial health and investor appeal.

This dividend increase is part of a broader trend in the market, as evidenced by similar announcements from other major companies. For instance, BlackRock declared a quarterly cash dividend of $5.21 per share, highlighting a general optimism in the financial sector.

As Penske Automotive Group looks to the future, it remains focused on expanding its dealership network and enhancing its service offerings. The company’s strategic initiatives are expected to drive further growth and profitability, ensuring continued value for its shareholders.

For more information about Penske Automotive Group and its offerings, interested parties can visit their website at www.penskeautomotive.com .