--- schema_version: "secwatch.filing_event.v1" accession: "0001019849-23-000075" form_type: "8-K" ticker: "PAG" cik: "0001019849" company_name: "PENSKE AUTOMOTIVE GROUP, INC." filed_at: "2023-05-15T23:59:59+00:00" generated_at: "2026-06-15T00:27:28.324464+00:00" event_type: "dividend" sentiment: "positive" materiality_score: 0.7 calibrated_materiality_score: 0.7 confidence: "high" source: SEC EDGAR --- # Penske Automotive increases dividend 8% to $0.66/share and adds $250M buyback authority ## Summary - 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. ## SEC filing metadata - accession: 0001019849-23-000075 - form_type: 8-K - ticker: PAG - cik: 0001019849 - company_name: PENSKE AUTOMOTIVE GROUP, INC. - filed_at: 2023-05-15T23:59:59+00:00 - event_type: dividend - sentiment: positive - materiality_score: 0.7 - calibrated_materiality_score: 0.7 - confidence: high - sec_items: 5.07, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000075/0001019849-23-000075-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000075/pag-20230511.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001019849-23-000075 - JSON: https://secwatch.observer/filing/0001019849-23-000075.json - Plain text: https://secwatch.observer/filing/0001019849-23-000075.txt ## Key facts - Shareholder Votes 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000075/0001019849-23-000075-index.htm - Shareholder Votes 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000075/0001019849-23-000075-index.htm - Shareholder Votes 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000075/0001019849-23-000075-index.htm - Shareholder Votes 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000075/0001019849-23-000075-index.htm - Shareholder Votes 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 source text: 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 evidence_url: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000075/0001019849-23-000075-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.