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 17, 2013 |
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.
On July 17, 2013, we announced that our Board of Directors has approved a quarterly dividend in the amount of $0.16 per share payable September 3, 2013 to shareholders of record as of August 12, 2013, as discussed more fully in the press release incorporated herein and attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
Exhibit 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 17, 2013 | By: |
/s/ 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 7%
Shareholders to Receive $0.16 per Share
BLOOMFIELD HILLS, MI, July 17, 2013 Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that its Board of Directors has approved a cash dividend of $0.16 per share for the second quarter of 2013. The dividend is payable on September 3, 2013, to shareholders of record on August 12, 2013.
We are pleased to offer our shareholders a 7% increase in the quarterly dividend, said Penske Automotive Group President Robert H. Kurnick, Jr. Based upon the strength in our financial performance, cash flow generation, and the strong automotive retail environment in our U.S. and U.K. markets, we remain confident in our ability to continue growing our business.
About Penske Automotive
Penske Automotive Group, Inc., headquartered in Bloomfield Hills, Michigan, operates 332
retail automotive franchises, representing 39 different brands and 30 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 18 states and Puerto Rico and 160 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 16,700 employees.
Caution Concerning Forward Looking Statements
Statements in this press release may involve forward-looking statements, including forward-looking
statements regarding Penske Automotive Group, Inc.s future sales potential and outlook. Actual
results may vary materially because of risks and uncertainties that are difficult to predict. These
risks and uncertainties include, among others: economic conditions generally, conditions in the
credit markets and changes in interest rates, adverse conditions affecting a particular
manufacturer, including the adverse impact to the vehicle and parts supply chain due to natural
disasters or other disruptions that interrupt the supply of vehicles or parts to us; changes in
consumer credit availability, the outcome of legal and administrative matters, and other factors
over which management has limited control. These forward-looking statements should be evaluated
together with additional information about Penske Automotives business, markets, conditions and
other uncertainties, which could affect Penske Automotives future performance. These risks and
uncertainties are addressed in Penske Automotives Form 10-K for the year ended December 31, 2012,
and its other filings with the Securities and Exchange Commission (SEC). This press release
speaks only as of its date, and Penske Automotive 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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