Penske Reinstates Dividend

By Staff Writer October 14, 2020

Penske Automotive Group Inc., a diversified international transportation services company, announced that its Board of Directors has reinstated the company’s dividend, declaring a cash dividend of $0.42 per share. The dividend is payable on Dec. 1, 2020, to shareholders of record on November 10.

Commenting on the dividend reinstatement, Chair Roger Penske said, “I am pleased to announce the reinstatement of our dividend. The actions we took to mitigate the impact of Covid-19, coupled with the improvement in business conditions in the third quarter, were instrumental in our ability to preserve liquidity and repay $300 million in Senior Subordinated Notes in August, at their maturity. I am confident in the strength of our financial position and our ability to reinstate the dividend at this time.” 

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Last modified on Thursday, 15 October 2020 19:19