Published July 26, 2017 7:56am EDT | Updated July 26, 2017 8:04am EDT

Penske Automotive Raises Quarterly Dividend To 32 Cents From 31 Cents

Penske Automotive Group Inc. said Wednesday it is raising its quarterly dividend to 32 cents a share. The last dividend it paid was 31 cents. The new payment will be made pn Sept. 1 to shareholders of record as of Aug. 10. Shares are down 16% in 2017, while the S&P 500 has gained 10.6%.