Ex-Dividend Date Insight: Penske Automotive Group

Penske Automotive Group PAG declared a dividend payable on September 1, 2021 to its shareholders as of July 21, 2021. It was also announced that shareholders of Penske Automotive Group's stock as of August 10, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Penske Automotive Group has an ex-dividend date planned for August 9, 2021. The company's current dividend payout sits at $0.45. That equates to a dividend yield of 2.25% at current price levels.

What Is 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. Most ex-dividend dates operate on a quarterly basis.

Understanding Penske Automotive Group's Dividend Payouts And Yields

Over the past year, Penske Automotive Group has seen its dividend payouts climb upward and its yields trend downward. Last year on February 21, 2020 the company's payout sat at $0.42, which has since increased by $0.03. Penske Automotive Group's dividend yield last year was 3.25%, which has since decreased by 1.0%.
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.

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