Benzinga | Oct 21, 2021 12:11PM EDT

Penske Automotive Hikes Dividend By 2.2%

* Penske Automotive Group Inc (NYSE:PAG) Board of Directors has increased the company's dividend by 2.2% to $0.46 per share.

* The dividend is payable December 1, 2021, to shareholders of record on November 10, 2021.

* On July 21, 2021, Penske announced an increase in the quarterly dividend to $0.45 per share.

* The company held $165.2 million in cash and equivalents as of June 30, 2021.

* Price Action: PAG shares closed higher by 0.64% at $103.73 on Wednesday.