penske automotive group inc (UA9) Snapshot

Penske Automotive Group, Inc. (NYSE:PAG) is interested in acquiring some dealerships in Germany if Daimler AG (XTRA:DAI) wants to sell. Anthony Pordon, Executive Vice President of Investor Relations and Corporate Development of Penske, said, "I really don't know much about Daimler's intentions. But if they were to sell dealerships, I am sure we would be interested in at least taking a look at some of the potential dealerships since we already have a presence in the German marketplace." However, Daimler may want to sell four stores as it seeks to boost faltering profits, an unidentified source told Reuters. Daimler could sell more dealerships if those transactions go well, the source added. Dieter Zetsche, Chief Executive Officer of Daimler, said, "There is currently no final concept for restructuring the group's own retail network in Germany but different options are still being evaluated." he declined to comment specifically on store sales to Automotive News.

Penske Automotive Group, Inc. Presents at Stephens Spring Investment Conference, Jun-05-2013 02:00 PM. Venue: The New York Palace Hotel, New York, New York, United States.

Penske Automotive Group, Inc. announced that its Board of Directors has approved a cash dividend of $0.15 per share for the first quarter of 2013. The dividend is payable on June 3, 2013, to shareholders of record on May 20, 2013. Based on the strength of financial performance, cash flow generation and continued confidence the company have in the retail automotive environment, to offer the shareholders a 7% increase in the quarterly dividend.