Penske Automotive Group, Inc. (NYSE: PAG) today announced that it is increasing its quarterly dividend to 33c per share from 32c per share. This equates to a 3% qoq increase.
While “small” when considered in isolation, the most recent quarterly dividend increase is actually the Company’s 26th such consecutive quarterly dividend bump.
See here for why I believe PAG is a solid long-term hold for dividend investors:
Automobile retailer Penske Automotive Group (NYSE: PAG) announced a U.S. 1 cent increase in its quarterly dividend to U.S. 29 cents per share today. Today’s dividend increase follows similar increases announced in January, May, and July of this year, and amounts to a total increase over the final quarterly 2015 dividend of an impressive 16%.
You can read the announcement here:
http://investors.penskeautomotive.com/phoenix.zhtml?c=82644&p=irol-newsArticle&ID=2212893
The deal was announced on October 3:
http://www.prnewswire.com/news-releases/penske-automotive-expands-presence-in-italy-300337902.html
Click below for my take on why I believe PAG is a good investment:
The Security Whisperer 