The next dividend that Penske Automotive Group, Inc. (PAG) will pay in September will continue the tradition of raising the dividend by a penny per quarter, which has occurred since my initial purchase in the spring of last year.
While the dividend payments have gone up, the value of the shares has gone up as well.
The 20% increase in my next dividend payment over the first payment 15 months earlier is 16% higher on an annualized basis. 16% is an excellent annualized growth rate for a stock in the nP portfolio.
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