- Penske Automotive Group has raised its quarterly dividend by 9.7% to 79 cents.
- The new payout represents an annual yield of about 2.08% based on Tuesday’s closing price.
- This is the eighth increase in quarterly payout since the start of 2022.
- The increase reflects a healthy balance sheet, strong cash flow, and the strength of Penske’s operations.
- The dividend will be payable on December 1st to shareholders of record on November 10th.
Penske Automotive Group has announced a 9.7% increase in its quarterly dividend, raising it to 79 cents. This new payout, equivalent to $3.16 per year, will result in an annual yield of approximately 2.08% based on the closing price of $151.73. This marks the eighth consecutive increase in the company’s quarterly payout since the beginning of 2022. The decision to raise the dividend reflects Penske’s healthy balance sheet, strong cash flow, and the overall strength of its operations. Shareholders of record as of November 10th will receive the increased dividend on December 1st.
