Penske Automotive Boosts Dividend 5.9%

(RTTNews) - Penske Automotive Group, Inc. (PAG) said Tuesday that its Board of Directors has approved a cash dividend of $0.18 per share for the fourth quarter of 2013.

The dividend is payable on March 3 to shareholders of record on February 10.

Penske Automotive Group President Robert Kurnick, Jr., said, "Our Board of Directors is pleased to offer our shareholders a 5.9% increase in the quarterly dividend to $0.18. The increase in the dividend reflects the confidence we have in the strength of the automotive retail market and our ability to continue growing our overall business."