Group 1 Increases Dividend

By Staff Writer May 20, 2022

Group 1 Automotive, Inc., an international, Fortune 300 automotive retailer with 202 dealerships located in the U.S. and U.K., announced its board of directors increased the company’s common stock repurchase authorization by $175 million to $250 million, and also declared an increase to the quarterly cash dividend.

Group 1’s board of directors declared a cash dividend of $0.37 per share for the first quarter of 2022.  The dividend represents an increase of 2.8%, or $0.01 per share, from the fourth quarter of 2021, and will be payable on June 15, 2022, to stockholders of record as of June 1, 2022.

“We continue to demonstrate strong cash flow and a healthy balance sheet, which has enabled significant capital deployment in 2022.  We look to continue growth via acquisitions while also returning capital to our shareholders,” said Earl J. Hesterberg, Group 1’s president and chief executive officer.

The company also updated their year-to-date repurchase activity of 796,060 shares of common stock at an average price of $179.72 for a total of $143.1 million, which represents 4.6 percent of Group 1’s outstanding share count at Jan. 1, 2022.  

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Last modified on Wednesday, 25 May 2022 15:15