Penske Auto (PAG) Boosts Qtr. Dividend 1c to 16c/Share; Yields 1.9%

Penske Automotive Group (NYSE: PAG) declared a quarterly dividend of $0.16 per share, or $0.64 annualized. This is a 6.7% increase from the prior dividend of $0.15.

The dividend will be payable on September 3, 2013, to stockholders of record on August 12, 2013, with an ex-dividend date of August 8, 2013.

The annual yield on the dividend is 1.9 percent.

"We are pleased to offer our shareholders a 7% increase in the quarterly dividend," said Penske Automotive Group President Robert H. Kurnick, Jr. "Based upon the strength in our financial performance, cash flow generation, and the strong automotive retail environment in our U.S. and U.K. markets, we remain confident in our ability to continue growing our business."

For a dividend history and other dividend-related data on Penske Automotive Group (PAG) click here.

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