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 $0.14 per share for the fourth quarter of 2012. The
dividend is payable on March 1, 2013, to shareholders of record on
February 11, 2013.
Commenting on the dividend increase, Penske Automotive Group President
Robert H. Kurnick, said “Increasing the dividend to $0.14 per share
demonstrates the strength of our financial performance, our commitment
to returning capital to shareholders and the confidence we have in the
auto retail environment.”
About Penske Automotive
Penske
Automotive Group, Inc., headquartered in Bloomfield Hills, Michigan,
operates 344 retail automotive franchises, representing over 40
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 173 franchises in 18 states
and Puerto Rico and 171 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 16,700 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:
David K. Jones
Executive Vice
President and Chief Financial Officer
Penske Automotive Group, Inc.
248-648-2800
dave.jones@penskeautomotive.com
or
Anthony
R. Pordon
Executive Vice President Investor Relations and Corporate
Development
Penske Automotive Group, Inc.
248-648-2540
tpordon@penskeautomotive.com
Source: Penske Automotive Group, Inc.