dividend
confidence high
sentiment positive
materiality 0.55
Penske Automotive increases dividend to $0.50/share (6.4% raise) and boosts buyback authorization to $250M
PENSKE AUTOMOTIVE GROUP, INC.
- Dividend raised 6.4% to $0.50/share; payable June 1, 2022, record May 23, 2022.
- Share repurchase authorization increased to $250M; $46.3M remained as of April 30.
- Q1 2022 operating cash flow of $381M cited as basis for capital return.
- Jan–Apr 2022 repurchased 1.9M shares for $184.1M.