Group 1 Increases Stock Repurchase, Dividend

By Staff Writer November 17, 2022

Group 1 Automotive, with 203 dealerships located in the U.S. and U.K., today announced its board of directors increased the company’s common stock repurchase authorization by $161 million to $200 million, and also declared an increase to the quarterly cash dividend. 

“Our strong cash flow and robust balance sheet continues to enable the company to have significant flexibility in our capital deployment,” said Earl J. Hesterberg, Group 1’s chief executive officer.

“Since the beginning of the third quarter of 2021 we have added $3.1 billion in acquired revenues and repurchased approximately 21% of the company’s outstanding share count. Our top capital allocation priorities continue to be growing our U.S. and U.K. businesses while also returning capital to our shareholders.”

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Last modified on Thursday, 17 November 2022 02:19