Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, today announced that its Board of Directors has approved an increase in the cash dividend to $0.37 per share for Q3 of 2018.
“Our Board of Directors are pleased to offer our shareholders an increase in the quarterly dividend for the 30th consecutive quarter,” said Penske Automotive Group President Robert H. Kurnick, Jr. “The increase in the dividend reflects our commitment to increasing returns for shareholders and reinforces the continued confidence we have in our ability to grow our company’s diversified transportation services business model.”
The dividend is payable on December 4, 2018, to shareholders of record on November 12, 2018.
About Penske Automotive
Penske Automotive Group, Inc., (NYSE:PAG) headquartered in Bloomfield Hills, Michigan, is an international transportation services company that operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand. PAG employs more than 26,000 people worldwide, is a member of the Fortune 500, Russell 2000, and was named as one of the World’s Most Admired Companies by Fortune.