By Colin Kellaher
Penske Automotive Group's board has raised the transportation-services company's quarterly dividend by 2.5%, to $1.22 from $1.19.
The new payout, equal to $4.88 a year, represents an annual yield of about 2.96%, based on Wednesday's closing price of $164.64, up from 2.89%.
Penske has now raised its dividend for 17 consecutive quarters.
The Bloomfield Hills, Mich., company on Thursday said the increased dividend is payable March 6 to shareholders of record Feb. 24.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 13, 2025 07:29 ET (12:29 GMT)
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