Kar Auction Services (KAR) Raises Quarterly Dividend 10.3% to $0.32; 3% Yield

KAR Auction Services, Inc. Reports Third Quarter 2016 Financial Results, Dividend Increase and Share Repurchase Authorization

CARMEL, Ind., Nov. 03, 2016 (GLOBE NEWSWIRE) -- KAR Auction Services, Inc. (NYSE: KAR), today reported its third quarter financial results for the period ended September 30, 2016. For the third quarter of 2016, the company reported revenue of $773.8 million as compared with revenue of $666.7 million for the third quarter of 2015, an increase of 16%. Net income for the third quarter of 2016 increased 4% to $54.4 million, or $0.39 per diluted share, as compared with net income of $52.3 million, or $0.37 per diluted share, in the third quarter of 2015. Adjusted EBITDA for the quarter ended September 30, 2016 increased 13% to $184.8 million, as compared with... More