BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--
Penske Automotive Group, Inc. (NYSE:PAG), an international automotive
retailer, today announced that its Board of Directors has approved a
cash dividend of $0.13 per share for the third quarter of 2012. The
dividend is payable on December 3, 2012, to shareholders of record on
November 12, 2012.
“Increasing the dividend to $0.13 per share continues to demonstrate our
commitment to returning capital to shareholders and the confidence we
have in the auto retail environment,” said Penske Automotive Group
President Rob Kurnick.
About Penske Automotive
Penske
Automotive Group, Inc., headquartered in Bloomfield Hills, Michigan,
operates 338 retail automotive franchises, representing 41 different
brands and 30 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 171 franchises in 17 states and Puerto Rico
and 167 franchises located outside the United States, primarily in the United
Kingdom. Penske Automotive is a member of the Fortune 500 and
Russell 2000 and has approximately 16,000 employees.
Caution Concerning Forward Looking Statements
Statements in this press release may involve forward-looking statements,
including 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, adverse conditions affecting a particular manufacturer,
including the adverse impact to the vehicle and parts supply chain due
to natural disasters 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, 2011, 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.
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:
Penske Automotive Group, Inc.
David
K. Jones, 248-648-2800
Executive Vice President and
Chief
Financial Officer
dave.jones@penskeautomotive.com
or
Penske
Automotive Group, Inc.
Anthony R. Pordon, 248-648-2540
Executive
Vice President Investor Relations and Corporate Development
tpordon@penskeautomotive.com
Source: Penske Automotive Group, Inc.