STOCK TITAN

PENSKE AUTOMOTIVE GROUP INCREASES DIVIDEND 11% TO $1.19

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends

Penske Automotive Group (NYSE: PAG) has increased its quarterly dividend by 11% to $1.19 per share. This marks the 16th consecutive quarterly increase and the fourth increase in 2024. The dividend is payable on December 3, 2024, to shareholders of record as of November 15, 2024.

In 2024, PAG will have returned over $350 million to shareholders through dividends and securities repurchases. The company has also completed acquisitions representing $2 billion in estimated annualized revenues year-to-date. PAG operates dealerships internationally, is a major retailer of commercial trucks, and owns 28.9% of Penske Transportation Solutions.

Penske Automotive Group (NYSE: PAG) ha aumentato il suo dividendo trimestrale dell'11% a $1,19 per azione. Questo segna il 16° aumento trimestrale consecutivo e il quarto aumento nel 2024. Il dividendo sarà pagabile il 3 dicembre 2024, agli azionisti registrati al 15 novembre 2024.

Nel 2024, PAG avrà restituito oltre $350 milioni agli azionisti attraverso dividendi e riacquisti di azioni. L'azienda ha anche completato acquisizioni che rappresentano $2 miliardi di ricavi annualizzati stimati dall'inizio dell'anno. PAG opera concessionarie a livello internazionale, è un importante rivenditore di camion commerciali e possiede il 28,9% di Penske Transportation Solutions.

Penske Automotive Group (NYSE: PAG) ha aumentado su dividendo trimestral en un 11% a $1.19 por acción. Esto marca el 16° aumento trimestral consecutivo y el cuarto aumento en 2024. El dividendo se pagará el 3 de diciembre de 2024, a los accionistas registrados hasta el 15 de noviembre de 2024.

En 2024, PAG habrá devuelto más de $350 millones a los accionistas a través de dividendos y recompra de acciones. La compañía también ha completado adquisiciones que representan $2 mil millones en ingresos anuales estimados hasta la fecha. PAG opera concesionarios a nivel internacional, es un importante minorista de camiones comerciales y posee el 28.9% de Penske Transportation Solutions.

펜스큐 오토모티브 그룹 (NYSE: PAG)은 분기 배당금을 11% 인상하여 주당 $1.19로 발표했습니다. 이는 16회 연속 분기 증가를 기록하며, 2024년의 네 번째 증가입니다. 배당금은 2024년 12월 3일에 2024년 11월 15일 기준 주주에게 지급됩니다.

2024년에 PAG는 배당금과 주식 매입을 통해 주주에게 3억 5천만 달러 이상을 반환할 것입니다. 회사는 연초까지 추정 연간 수익 20억 달러를 대표하는 인수 거래를 완료했습니다. PAG는 국제적으로 딜러십을 운영하며 상업용 트럭의 주요 소매업체로, Penske Transportation Solutions의 28.9%를 소유하고 있습니다.

Penske Automotive Group (NYSE: PAG) a augmenté son dividende trimestriel de 11% à 1,19 $ par action. Cela marque le 16ème augmentation trimestrielle consécutive et la quatrième augmentation en 2024. Le dividende sera payable le 3 décembre 2024, aux actionnaires enregistrés au 15 novembre 2024.

En 2024, PAG aura rendu plus de 350 millions $ aux actionnaires à travers des dividendes et des rachats de titres. L'entreprise a également finalisé des acquisitions représentant 2 milliards $ de revenus annualisés estimés depuis le début de l'année. PAG exploite des concessions à l'international, est un détaillant majeur de camions commerciaux et possède 28,9% de Penske Transportation Solutions.

Penske Automotive Group (NYSE: PAG) hat seine vierteljährliche Dividende um 11% auf 1,19 USD pro Aktie erhöht. Dies stellt die 16. aufeinanderfolgende quartalsweise Erhöhung dar und die vierte Erhöhung im Jahr 2024. Die Dividende ist am 3. Dezember 2024 an Aktionäre zahlbar, die bis zum 15. November 2024 registriert sind.

Im Jahr 2024 wird PAG über 350 Millionen USD an die Aktionäre zurückgegeben haben durch Dividenden und Aktienrückkäufe. Das Unternehmen hat auch Übernahmen abgeschlossen, die geschätzte jährliche Einnahmen von 2 Milliarden USD repräsentieren bis zum heutigen Tag. PAG betreibt international Autohäuser, ist ein wichtiger Einzelhändler von Nutzfahrzeugen und besitzt 28,9% von Penske Transportation Solutions.

Positive
  • Quarterly dividend increased by 11% to $1.19 per share
  • 16th consecutive quarterly dividend increase
  • Over $350 million returned to shareholders in 2024
  • Acquisitions representing $2 billion in estimated annualized revenues completed year-to-date
  • Strong balance sheet and low leverage maintained
Negative
  • None.

Represents 16th Consecutive Quarterly Increase

Balance Sheet Remains Strong and Leverage Remains Low

BLOOMFIELD HILLS, Mich., Oct. 16, 2024 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced that its Board of Directors has approved a quarterly dividend of $1.19 per share, representing an increase of 11%, or $0.12 per share. This represents the fourth increase to the Company's dividend in 2024 and the 16th consecutive quarterly increase.

Including this dividend distribution and the Company's securities repurchases, the Company will have returned more than $350 million to shareholders in 2024. As part of Penske Automotive Group's capital allocation strategy, the Company has also completed acquisitions representing $2 billion in estimated annualized revenues year-to-date.  

The dividend is payable December 3, 2024, to shareholders of record as of November 15, 2024.

About Penske Automotive

Penske Automotive Group, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers. PAG operates dealerships in the United States, the United Kingdom, Canada, Germany, Italy, Japan and Australia and is one of the largest retailers of commercial trucks in North America for Freightliner. PAG also distributes and retails commercial vehicles, diesel and gas engines, power systems, and related parts and services principally in Australia and New Zealand. PAG employs over 28,850 people worldwide. Additionally, PAG owns 28.9% of Penske Transportation Solutions ("PTS"), a business that employs over 44,000 people worldwide, manages one of the largest, most comprehensive and modern trucking fleets in North America with over 442,000 trucks, tractors, and trailers under lease, rental, and/or maintenance contracts and provides innovative transportation, supply chain, and technology solutions to its customers. PAG is a member of the S&P Mid Cap 400, Fortune 500, Russell 1000, Russell 3000 indexes. For additional information, including the Company's 2023 Corporate Responsibility Report highlighting its corporate responsibility strategies, activities, and certain metrics, visit the Company's website at www.penskeautomotive.com.

Caution Concerning Forward Looking Statements

Statements in this press release may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.'s financial performance and future plans. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others, those related to macro-economic, geo-political and industry conditions and events, including their impact on new and used vehicle sales, the availability of consumer credit, changes in consumer demand, consumer confidence levels, fuel prices, demand for trucks to move freight with respect to Penske Transportation Solutions (PTS) and PTG, personal discretionary spending levels, interest rates, and unemployment rates; our ability to obtain vehicles and parts from our manufacturers, especially in light of supply chain disruptions due to natural disasters, the shortage of vehicle components, international conflicts, including the war in Ukraine, challenges in sourcing labor, or labor strikes or work stoppages, or other disruptions; changes in the retail model either from direct sales by manufacturers, a transition to an agency model of sales, sales by online competitors, or from the expansion of electric vehicles; disruptions to the security and availability of our information technology systems and those of our third party providers, which systems are increasingly threatened by ransomware and other cyber-attacks; the effects of a pandemic on the global economy, including our ability to react effectively to changing business conditions in light of any pandemic; the rate of inflation, including its impact on vehicle affordability; changes in interest rates and foreign currency exchange rates; our ability to consummate, integrate, obtain synergies with respect to, and realize returns on our acquisitions; with respect to PTS, changes in the financial health of its customers, labor strikes or work stoppages by its employees, a reduction in PTS' asset utilization rates, continued availability from truck manufacturers and suppliers of vehicles and parts for its fleet, changes in values of used trucks which affects PTS' profitability on truck sales and regulatory risks and related compliance costs, our ability to realize returns on our significant capital investments in new and upgraded dealership facilities; our ability to navigate a rapidly changing automotive and truck landscape; our ability to respond to new or enhanced regulations in both our domestic and international markets relating to dealerships and vehicles sales, including those related to the sales process or emissions standards, as well as changes in consumer sentiment relating to commercial truck sales that may hinder our or PTS' ability to maintain, acquire, sell, or operate trucks; the success of our distribution of commercial vehicles, engines, and power systems; natural disasters; recall initiatives or other disruptions that interrupt the supply of vehicles or parts to us; the outcome of legal and administrative matters, and other factors over which management has limited control. These forward-looking statements should be evaluated together with additional information about Penske Automotive Group's business, markets, conditions, risks, and other uncertainties, which could affect Penske Automotive Group's future performance. The risks and uncertainties discussed above are not exhaustive and additional risk and uncertainties are addressed in Penske Automotive Group's Form 10-K for the year ended December 31, 2023, its Form 10-Q for the three months ended March 31, 2024 and June 30, 2024, and its other filings with the Securities and Exchange Commission. This press release speaks only as of its date, and Penske Automotive Group disclaims any duty to update the information herein.

Inquiries should contact:



Shelley Hulgrave

Anthony Pordon

Executive Vice President and

Executive Vice President Investor Relations

Chief Financial Officer

and Corporate Development

Penske Automotive Group, Inc.

Penske Automotive Group, Inc.

248-648-2812

248-648-2540

shulgrave@penskeautomotive.com

tpordon@penskeautomotive.com

 

Penske Automotive Group logo. (PRNewsFoto/Penske Automotive Group)

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/penske-automotive-group-increases-dividend-11-to-1-19--302278270.html

SOURCE Penske Automotive Group, Inc.

FAQ

What is Penske Automotive Group's new quarterly dividend amount?

Penske Automotive Group (PAG) has increased its quarterly dividend to $1.19 per share, representing an 11% increase or $0.12 per share.

When will PAG's new dividend be payable?

The new dividend of $1.19 per share will be payable on December 3, 2024, to shareholders of record as of November 15, 2024.

How many consecutive quarterly dividend increases has PAG made?

Penske Automotive Group (PAG) has made 16 consecutive quarterly dividend increases, with this being the fourth increase in 2024.

How much has PAG returned to shareholders in 2024?

Penske Automotive Group (PAG) will have returned more than $350 million to shareholders in 2024 through dividend distributions and securities repurchases.

What is the estimated value of acquisitions PAG has completed in 2024?

Penske Automotive Group (PAG) has completed acquisitions representing $2 billion in estimated annualized revenues year-to-date in 2024.

Penske Automotive Group, Inc.

NYSE:PAG

PAG Rankings

PAG Latest News

PAG Stock Data

10.86B
52.71M
21.06%
75.59%
1.8%
Auto & Truck Dealerships
Retail-auto Dealers & Gasoline Stations
Link
United States of America
BLOOMFIELD HILLS