Group 1 Automotive raises quarterly dividend to $0.55
The automotive retailer's board approved a 2.8% increase from the prior $0.535 payout, payable on Nov. 15 to shareholders of record on Nov. 1.
Group 1 Automotive Inc. said on Monday its board declared a quarterly cash dividend of $0.55 per share, up from $0.535 in the prior quarter.
The dividend is payable on Nov. 15 to shareholders of record as of the close of business on Nov. 1. The company did not provide additional commentary on the declaration.
The increase marks a 2.8% rise from the previous payout, reflecting the company's ongoing capital return strategy. Group 1 Automotive, a Fortune 500 automotive retailer, operates through a network of dealerships across the U.S., U.K. and Brazil under brands including Ford, Toyota and Volkswagen.
The dividend follows the company's Q3 earnings report, which is scheduled for release on Oct. 24. The next dividend declaration date has not been disclosed.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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