Group 1 Automotive Board Approves New Share Repurchase Authorization & Declares Quarterly Dividend
Group 1 Automotive (NYSE: GPI) announced two significant corporate actions: a new $500 million share repurchase authorization and a quarterly dividend declaration. The board increased the repurchase authorization by $333 million, following the company's year-to-date repurchase of 461,365 shares at an average price of $298.49, totaling $138 million. Additionally, a $0.47 per share dividend was declared, payable on December 16, 2024, reflecting a 4% increase in the annual dividend rate from $1.80 in 2023 to $1.88 in 2024.
Group 1 Automotive (NYSE: GPI) ha annunciato due importanti azioni aziendali: una nuova autorizzazione al riacquisto di azioni di $500 milioni e la dichiarazione di un dividendo trimestrale. Il consiglio di amministrazione ha aumentato l'autorizzazione al riacquisto di $333 milioni, dopo che l'azienda ha riacquistato fino ad oggi 461.365 azioni a un prezzo medio di $298,49, per un totale di $138 milioni. Inoltre, è stato dichiarato un dividendo di $0,47 per azione, pagabile il 16 dicembre 2024, che riflette un aumento del 4% nel tasso annuale del dividendo, da $1,80 nel 2023 a $1,88 nel 2024.
Group 1 Automotive (NYSE: GPI) anunció dos acciones corporativas significativas: una nueva autorización de recompra de acciones por $500 millones y la declaración de un dividendo trimestral. La junta aumentó la autorización de recompra en $333 millones, tras la recompra hasta la fecha de 461,365 acciones a un precio promedio de $298.49, totalizando $138 millones. Además, se declaró un dividendo de $0.47 por acción, pagadero el 16 de diciembre de 2024, que refleja un aumento del 4% en la tasa anual de dividendo, de $1.80 en 2023 a $1.88 en 2024.
Group 1 Automotive (NYSE: GPI)가 두 가지 중요한 기업 조치를 발표했습니다: 새로운 $5억 주식 재매입 승인과 분기 배당금 선언입니다. 이사회는 올해 $3억 3,300만의 재매입 승인을 늘렸으며, 회사는 평균 가격 $298.49에 461,365주를 재매입하여 총 $1억 3,800만 달러를 기록했습니다. 또한, 주당 $0.47의 배당금이 선언되어 2024년 12월 16일에 지급될 예정이며, 이는 2023년 $1.80에서 2024년 $1.88로 연간 배당률이 4% 증가한 것을 반영합니다.
Group 1 Automotive (NYSE: GPI) a annoncé deux mesures d'entreprise significatives : une nouvelle autorisation de rachat d'actions de 500 millions de dollars et la déclaration d'un dividende trimestriel. Le conseil d'administration a augmenté l'autorisation de rachat de 333 millions de dollars, après que l'entreprise a racheté jusqu'à présent 461 365 actions à un prix moyen de 298,49 dollars, totalisant 138 millions de dollars. De plus, un dividende de 0,47 dollar par action a été déclaré, payable le 16 décembre 2024, ce qui reflète une augmentation de 4 % du taux de dividende annuel, passant de 1,80 dollar en 2023 à 1,88 dollar en 2024.
Group 1 Automotive (NYSE: GPI) gab zwei bedeutende Unternehmensmaßnahmen bekannt: eine neue Freigabe zum Rückkauf von Aktien in Höhe von 500 Millionen US-Dollar und die Erklärung einer vierteljährlichen Dividende. Der Vorstand erhöhte die Rückkaufgenehmigung um 333 Millionen US-Dollar, nachdem das Unternehmen bis heute 461.365 Aktien zu einem Durchschnittspreis von 298,49 US-Dollar zurückgekauft hat, was insgesamt 138 Millionen US-Dollar ausmacht. Darüber hinaus wurde eine Dividende von 0,47 US-Dollar pro Aktie erklärt, die am 16. Dezember 2024 zahlbar ist, was einem Anstieg der jährlichen Dividendenrendite um 4 % von 1,80 US-Dollar im Jahr 2023 auf 1,88 US-Dollar im Jahr 2024 entspricht.
- New $500 million share repurchase authorization approved
- 4% increase in annual dividend rate to $1.88 per share
- Strong cash position enabling share repurchases from operations
- Already completed $138 million in share repurchases YTD 2024
- None.
Insights
The $500 million share repurchase authorization represents approximately
- Share Repurchase Authorization Increase
The Company announced that its board of directors increased the Company's common share repurchase authorization by$333 million $500 million $298.49 , for a total of$138 million . Purchases may be made from time to time, based on market conditions, legal requirements, and other corporate considerations, in the open market or in privately negotiated transactions. The Company expects that any repurchase of shares will be funded by cash from operations. Repurchased shares will be held in treasury.
- Quarterly Dividend
Group 1's board of directors also declared a$0.47 4% in its annualized dividend rate from$1.80 $1.88
ABOUT GROUP 1 AUTOMOTIVE, INC.
Group 1 owns and operates 260 automotive dealerships, 338 franchises, and 39 collision centers in
Group 1 discloses additional information about the Company, its business, and its results of operations at www.group1corp.com, www.group1auto.com, www.group1collision.com, www.acceleride.com, and www.facebook.com/group1auto.
FORWARD-LOOKING STATEMENTS
All statements in this press release related to future, not past, events are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on our current expectations and assumptions regarding our business, the economy and other future conditions. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause actual results to differ materially from those set forth in the statements. For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
Investor contacts:
Terry Bratton
Manager, Investor Relations
Group 1 Automotive, Inc.
ir@group1auto.com
Media contacts:
Pete DeLongchamps
Senior Vice President, Financial Services and Manufacturer Relations
Group 1 Automotive, Inc.
pdelongchamps@group1auto.com
Kimberly Barta
Head of Marketing and Communications
Group 1 Automotive, Inc.
kbarta@group1auto.com
or
Clint Woods
Pierpont Communications, Inc.
713-627-2223
cwoods@piercom.com
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SOURCE Group 1 Automotive, Inc.
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