UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): | July 26, 2011 |
Penske Automotive Group, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
Delaware | 1-12297 | 22-3086739 |
_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
2555 Telegraph Road, Bloomfield Hills, Michigan | 48302 | |
_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
Registrants telephone number, including area code: | 248-648-2500 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
Our Board of Directors has approved a quarterly dividend in the amount of $0.08 per share payable September 1, 2011 to shareholders of record as of August 10, 2011, as discussed more fully in the press release incorporated herein and attached
hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
99.1 Press Release.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Penske Automotive Group, Inc. | ||||
July 26, 2011 | By: |
Shane M. Spradlin
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Name: Shane M. Spradlin | ||||
Title: Executive Vice President |
Exhibit Index
Exhibit No. | Description | |
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99.1
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Press Release. |
FOR IMMEDIATE RELEASE
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PENSKE AUTOMOTIVE INCREASES DIVIDEND
Declares $0.08 Per Share, an increase of 14 Percent
BLOOMFIELD HILLS, MI, July 26, 2011 Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that its Board of Directors has declared a cash dividend of $0.08 per share, representing an increase of 14% over the $0.07 dividend paid in the previous quarter.
Commenting on the dividend, Chairman Roger Penske said, We believe providing shareholders with an increase in the quarterly dividend demonstrates the confidence we have in our strong operating performance and the resiliency of our business model while allowing the company to maintain financial flexibility to continue to invest in the business.
The dividend is payable on September 1, 2011, to shareholders of record on August 10, 2011.
About Penske Automotive
Penske Automotive Group, Inc., headquartered in Bloomfield Hills, Michigan, operates 327
retail automotive franchises, representing 42 different brands and 26 collision repair centers.
Penske Automotive, which sells new and previously owned vehicles, finance and insurance products
and replacement parts, and offers maintenance and repair services on all brands it represents, has
172 franchises in 17 states and Puerto Rico and 155 franchises located outside the United States,
primarily in the United Kingdom. Penske Automotive is a member of the Fortune 500 and
Russell 2000 and has approximately 15,000 employees.
Statements in this press release may involve forward-looking statements, including forward-looking statements regarding PAG. Actual results may vary materially because of risks and uncertainties, including adverse conditions affecting a particular manufacturer, including the adverse impact to the vehicle and parts supply chain due to the earthquake in Japan in March 2011, as well as external factors such as macro-economic factors, interest rate fluctuations, changes in consumer spending and other factors over which management has no control. These forward-looking statements should be evaluated together with additional information about PAGs business, markets, conditions and other uncertainties, which could affect PAGs future performance, which are contained in the Companys Form 10-K for the year ended December 31, 2010, and its other filings with the Securities and Exchange Commission and which are incorporated into this press release by reference. This press release speaks only as of its date, and Penske Automotive Group, Inc. disclaims any duty to update the information herein.
Find a vehicle: http://www.penskecars.com
Engage Penske Automotive: http://www.penskesocial.com
Like Penske Automotive on Facebook: https://facebook.com/PenskeCars
Follow Penske Automotive on Twitter: https://twitter.com/#!/Penskecarscorp
Visit Penske Automotive on YouTube: http://www.youtube.com/penskecars
Inquiries should contact:
David K. Jones Executive Vice President and Chief Financial Officer Penske Automotive Group, Inc. 248-648-2800 dave.jones@penskeautomotive.com |
Anthony R. Pordon Executive Vice President Investor Relations and Corporate Development Penske Automotive Group, Inc. 248-648-2540 tpordon@penskeautomotive.com |
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