Penske Automotive Group Increases Dividend From $0.72 To $0.79 Per Share
Portfolio Pulse from Benzinga Newsdesk
Penske Automotive Group, Inc. (NYSE:PAG) has announced a 9.7% increase in its quarterly dividend from $0.72 to $0.79 per share. The dividend will be payable on December 1, 2023, to shareholders of record as of November 10, 2023.
October 18, 2023 | 1:09 pm
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Penske Automotive Group's dividend increase reflects its strong financial position and could attract income-focused investors, potentially driving the stock price up in the short term.
Dividend increases are generally seen as a sign of a company's strong financial health. As such, they can make the company's stock more attractive to income-focused investors, which could increase demand for the stock and drive up its price in the short term.
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