BLOOMFIELD HILLS, Mich., May 11, 2023 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced that its Board of Directors has authorized an increase in the Company's quarterly dividend by $0.05 per share, or 8%, to $0.66 per share and delegated to management an additional $250 million in authority to repurchase the Company's outstanding securities. "Based on the strength of the Company's performance and continued strong cash flow, we are pleased to provide our shareholders with an increase in the cash dividend, and we remain poised to return value to shareholders through additional securities repurchase authority as market conditions and other considerations warrant," said Penske Automotive Group President, Robert Kurnick, Jr.
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