Automobile dealership major Penske Automotive Group (NYSE: PAG) recently reported strong 2016 results, key highlights of which are shown below:
- Revenue climbed 4.3% to just over $20B. Revenue climbed 8.6% excluding FX.
- SS retail revenue declined by a modest 0.6%, but increased 3.8% excluding FX
- Adjusted EPS from Continuing Ops increased 7.1%; +12% excluding FX.
Shareholders were also rewarded with a 1 cent or 3% increase in the company’s quarterly dividend to 30 cents per share. This most recent dividend increase represents the company’s 23rd such consecutive quarterly increase 🙂
See below for why I think PAG is a good long-term hold for the serious dividend investor:
Kicking The Tires On A New Car…And On A New Investment.
2 thoughts on “Penske Automotive Group Posts Strong 2016 & Boosts Dividend!”
Thanks for sharing your take on PAG. Seems like an interesting company to add to any long term dividend growth portfolio yet you don’t really see it as a holding among our fellow investing peers.
Thanks for stopping by DivHut. True, PAG tends to be off most dividend investors’ radars despite being an attractive business with solid fundamentals in my opinion. Who knows, maybe a few more years of dividend increases and investors may start to take notice.