Penske Automotive (PAG) Group announced that its Board of Directors has approved a quarterly dividend of $1.26 per share, representing an increase of 3.3%, or 4c per share. This represents the company’s 18th consecutive quarterly increase. The dividend is payable June 3 to shareholders of record as of May 27. The company’s Board of Directors also has approved an additional $250M in securities repurchase authorization, bringing the total current securities repurchase authorization to $295.8M.
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