BLOOMFIELD HILLS, MI--July 19, 2012: Penske Automotive Group, Inc. , an international automotive retailer, today announced that its Board of Directors has approved a cash dividend of $0.12 per share for the second quarter of 2012. The dividend is payable on September 4, 2012, to shareholders of record on August 10, 2012.
“Increasing the dividend to $0.12 per share demonstrates the strength of our financial performance and continued confidence we have in the auto retail environment.”
President Rob Kurnick said, "Increasing the dividend to $0.12 per share demonstrates the strength of our financial performance and continued confidence we have in the auto retail environment."
About Penske Automotive
Penske Automotive Group, Inc., headquartered in Bloomfield Hills, Michigan, operates 337 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 170 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.