: Penske Automotive hikes quarterly dividend by 9% to 72 cents a share

Penske Automotive Group Inc. PAG said Wednesday its board has approved a 9% increase in its quarterly dividend to 72 cents a share. The new dividend will be payable Sept. 1 to shareholders of record as of Aug. 10. The stock has gained 58% in the year to date, while the S&P 500 SPX has gained 18.6%.

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