8-K
filed May 15, 2023, 7:59 PM ET
ticker PAG
CIK 0001019849
dividend
confidence high
sentiment positive
materiality 0.70
Penske Automotive increases dividend 8% to $0.66/share and adds $250M buyback authority
PENSKE AUTOMOTIVE GROUP, INC.
- Quarterly dividend raised by $0.05 to $0.66 per share (8% increase), payable June 1 to holders of record May 22.
- Board delegated $250M additional securities repurchase authority; $135.8M remained from prior authorization as of May 10.
- Year-to-date 2023, repurchased 1.45M shares (2.1% of outstanding) for $188.4M.
- Annual meeting results: all 13 directors elected, auditor ratified, say-on-pay approved, annual frequency adopted.
- Company cites strong performance and cash flow as rationale for returning capital to shareholders.
Key facts
Extracted from this filing and checked against the source text.
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
PENSKE AUTOMOTIVE GROUP, INC. shareholders approved Election of thirteen directors at the 2023-05-11 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-05-11
Exact text from the filing
Proposal 1 The thirteen director nominees named in our proxy statement were elected, each for a term expiring at the next Annual Meeting of Stockholders or until their successors are duly elected and qualified or until their earlier resignation or removal: NOMINEE FOR WITHHELD NON-VOTES John Barr 57,526,451 7,533,957 2,168,739 Lisa Davis 63,875,240 915,168 2,168,739 Wolfgang Dürheimer 64,587,906 202,502 2,168,739 Michael Eisenson 63,898,436 891,972 2,168,739 Robert Kurnick, Jr. 63,488,000 1,302,408 2,168,739 Kimberly McWaters 55,323,632 9,466,776 2,168,739 Kota Odagiri 63,817,107 973,301 2,168,739 Greg Penske 63,722,561 1,067,847 2,168,739 Roger Penske 64,077,506 712,902 2,168,739 Sandra Pierce 63,473,626 1,316,782 2,168,739 Greg Smith 56,516,292 8,274,116 2,168,739 Ronald Steinhart 57,250,726 7,539,687 2,168,739 Brian Thompson 63,500,639 1,289,769 2,168,769
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
PENSKE AUTOMOTIVE GROUP, INC. shareholders approved Adoption of Amended and Restated Certificate of Incorporation to incorporate new Delaware law provisions regarding officer exculpation at the 2023-05-11 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-05-11
Exact text from the filing
Proposal 2 The proposal to adopt an Amended and Restated Certificate of Incorporation to incorporate new Delaware law provisions regarding officer exculpation: FOR AGAINST ABSTAIN BROKER NON-VOTES 55,184,026 9,574,600 31,782 2,168,739
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
PENSKE AUTOMOTIVE GROUP, INC. shareholders approved Ratification of Deloitte & Touche LLP as independent registered public accounting firm for 2023 at the 2023-05-11 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-05-11
Exact text from the filing
Proposal 3 The proposal to ratify the selection of Deloitte & Touche LLP as our independent registered public accounting firm for 2023: FOR AGAINST ABSTAIN 66,552,637 391,565 14,945
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
PENSKE AUTOMOTIVE GROUP, INC. shareholders approved Advisory vote on named executive officer compensation (Say-on-Pay) at the 2023-05-11 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-05-11
Exact text from the filing
Proposal 4 The proposal to approve, on an advisory basis, our named executive officer compensation: FOR AGAINST ABSTAIN BROKER NON-VOTES 64,189,463 567,713 33,232 2,168,739
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
PENSKE AUTOMOTIVE GROUP, INC. shareholders approved Advisory vote on frequency of future advisory votes on named executive officer compensation (Say-on-Pay Frequency) at the 2023-05-11 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2023-05-11
Exact text from the filing
Proposal 5 The proposal to approve, on an advisory basis, the frequency of future advisory votes regarding the compensation of our named executive officers: 1 YEAR 2 YEARS 3 YEARS ABSTAIN 63,079,741 17,375 1,672,385 20,907
View on SEC.gov
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