BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--July 17, 2007--Penske
Automotive Group, Inc. (NYSE:PAG), an international automotive
retailer, today announced that its Board of Directors has approved a
quarterly dividend of $0.07 per share payable on September 4, 2007, to
shareholders of record on August 10, 2007.
Penske Automotive Group, Inc., headquartered in Bloomfield Hills,
Michigan, operates 311 retail automotive franchises, representing 40
different brands, and 26 collision repair centers. Penske Automotive,
which sells new and previously owned vehicles, finance and insurance
products and replacement parts, and offers maintenance and repair
services on all brands it represents, has 164 franchises in 19 states
and Puerto Rico and 147 franchises located outside the United States,
primarily in the United Kingdom. Penske Automotive is a member of the
Fortune 500 and Russell 1000 and has 16,000 employees.
Statements in this press release may involve forward-looking
statements, including forward-looking statements regarding Penske
Automotive Group, Inc. Actual results may vary materially because of
risks and uncertainties, including external factors such as interest
rate fluctuations, changes in consumer spending and other factors over
which management has no 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, which are
contained in Penske Automotive's Form 10-K for the year ended December
31, 2006, and its other filings with the Securities and Exchange
Commission and which are incorporated into this press release by
reference. This press release speaks only as of its date, and Penske
Automotive disclaims any duty to update the information herein.
CONTACT: Penske Automotive Group, Inc.
Bob O'Shaughnessy, Chief Financial Officer, 248-648-2800
Tony Pordon, Senior Vice President, 248-648-2540
SOURCE: Penske Automotive Group, Inc.