PENSKE AUTOMOTIVE GROUP INCREASES DIVIDEND AND SHARE REPURCHASE AUTHORIZATION | News

Dividend Increased by A few Cents to $.50

Share Repurchase Authorization Elevated to $250 Million

BLOOMFIELD HILLS, Mich., May well 12, 2022 /PRNewswire/ — Penske Automotive Group, Inc. (NYSE: PAG), a diversified worldwide transportation companies firm and 1 of the world’s leading automotive and professional truck retailers, now declared that its Board of Directors has enhanced the Company’s dividend by 6.4%, or $.03 for every share, to $.50 for every share. “Through the very first quarter of 2022, Penske Automotive Group produced $381 million in funds circulation from operations.  Based mostly on this potent income stream, and the ongoing strength of the Company’s diversified business product, we are delighted to supply our shareholders with yet another raise in the cash dividend,” explained Penske Automotive Team President, Robert Kurnick.

The dividend is payable June 1, 2022, to shareholders of document on May possibly 23, 2022.

Also, the Board of Administrators enhanced the Firm’s share repurchase authorization to $250 million.  From January 1 by means of April 30, 2022, the Business had repurchased 1.9 million shares for $184.1 million, leaving it with $46.3 million accessible as of April 30, 2022.    

About Penske Automotive

Penske Automotive Team, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified worldwide transportation expert services firm and 1 of the world’s leading automotive and professional truck suppliers.  PAG operates dealerships principally in the United States, the United Kingdom, Germany, Italy, and Japan and is a person of the most significant retailers of industrial vehicles in North The us for Freightliner.  PAG also distributes and retails commercial vehicles, diesel and fuel engines, electricity programs and linked components and services principally in Australia and New Zealand. Moreover, PAG owns 28.9% of Penske Transportation Alternatives, a business that manages a fleet of more than 373,000 vehicles delivering impressive transportation, supply chain and technological know-how options to North American fleets.  PAG is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes, and is ranked among the World’s Most Admired Corporations by Fortune Journal. For extra data, take a look at the company’s web-site at www.penskeautomotive.com.

Caution Concerning Ahead Seeking Statements

Statements in this push release may perhaps contain ahead-searching statements, including forward-seeking statements concerning Penske Automotive Group, Inc.’s money performance, acquisitions, and development programs. Real effects could fluctuate materially because of hazards and uncertainties that are challenging to predict. These hazards and uncertainties contain, amid other individuals, the length, severity, and resolution of the COVID-19 pandemic, governing administration mandated restrictions on our enterprise in light of COVID-19 or or else, financial and geo-political ailments normally, circumstances in the credit score markets, inflation, improvements in curiosity charges and international forex trade rates, variations in tariff fees, improvements in the distribution product in our intercontinental operations through company or other signifies, adverse problems influencing a particular manufacturer, together with the adverse affect to the car and pieces provide chain owing to confined motor vehicle availability because of to the COVID-19 pandemic, the war in Ukraine, the scarcity of automotive semiconductor chips or other factors, natural disasters, remember or other disruptions that interrupt the supply of vehicles or components to us, alterations in buyer credit history availability, the result of authorized and administrative matters, and other components more than which administration has constrained handle. These forward-searching statements must be evaluated collectively with additional facts about Penske Automotive Group’s organization, markets, circumstances, and other uncertainties, which could have an affect on Penske Automotive Group’s long term functionality. These pitfalls and uncertainties are resolved in Penske Automotive Group’s Kind 10-K for the 12 months ended December 31, 2021, and its other filings with the Securities and Exchange Fee (“SEC”). This press launch speaks only as of its date, and Penske Automotive Group disclaims any obligation to update the data herein.

 

 

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