Penske Automotive to Increase Dividend to US$0.22 per Share
Published By : 29 Jan 2015 | Published By : QYRESEARCH
Penske Automotive Group, Inc., which is an international transportation services provider company, announced today that the board of directors of the company has permitted a cash dividend of US$0.22 a share for the fourth quarter of 2014. The dividend will be allocated on March 2, 2015, to shareholders, who are on record by February 10, 2015.
The president of the Penske Automotive Group, Mr. Robert H. Kurnick, Jr., stated that they are happy to offer their shareholders an increment in the quarterly dividend for the fourteenth quarter continuously. The rise in the dividend demonstrates the constant confidence that they have in the strength of the auto retail industry and their capability to continue to grow their overall business, and reinforces their commitment to increase dividends for shareholders.
Penske Automotive Group, Inc. has its head-quarter in Bloomfield Hills, Michigan. It is an international transportation services provider company, which operates in retail automotive and commercial truck dealerships. They are mainly operational in the United States and Western Europe, and are in the business of distribution of diesel engines, commercial vehicles, gas engines, power systems, and relevant spare parts and services mainly in New Zealand and Australia. Penske Automotive Group, Inc. employs more than twenty thousand people across the globe, and it is a member of the Russell 2000 and the Fortune 500.
Last week Penske Automotive acquired the dealership of Land Rover in Connecticut. Their existing presence boasts of brands such as Audi, Honda, BMW, Mercedes-Benz, and Porsche in the Connecticut market and links their business from Fairfield, through Darien and into Greenwich, permitting them to carry on scaling their operations.