Market Overview

Understanding Penske Automotive Group's Ex-Dividend Date

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On October 14, 2020, Penske Automotive Group (NYSE: PAG) announced shareholders can expect to receive a dividend payable on December 1, 2020. The stock will then go ex-dividend 1 business day(s) before the record date. Penske Automotive Group has an ex-dividend date set for for November 9, 2020. The company's current dividend payout is $0.42, which equates to a dividend yield of 3.16% at current price levels.

The Significance Of An Ex-Dividend Date

Ex-dividend dates signal when company shares cease to trade with their current dividend payouts. There is a small intermission period before companies announce new dividends. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Penske Automotive Group's Dividend History

Over the past year, Penske Automotive Group has seen its dividend payouts and yields climb upward overall. Last year (May 17, 2019), the company's payout sat at $0.39, which has since increased by $0.03. Penske Automotive Group's dividend yield last year was 3.0%, which has since grown by 0.16%.
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.

To read more news on Penske Automotive Group click here.

 

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