— Increases Share Repurchase Authorization
— Increases Quarterly Cash Dividend
HOUSTON, Feb. 16, 2022 /PRNewswire/ — Group 1 Automotive, Inc. (NYSE: GPI) (“Group 1” or the “Company”), an international, Fortune 300 automotive retailer with 200 dealerships located in the U.S. and U.K., today announced its board of directors increased the Company’s common stock share repurchase authorization by $144.2 million to $200.0 million, and also declared an increased quarterly cash dividend. Additionally, the Company announced the disposition of two stores.
“We continue to demonstrate strong cash flow and a healthy balance sheet, which will enable significant capital deployment flexibility in 2022, as we look to grow via acquisitions while also returning capital to our shareholders,” said Earl J. Hesterberg, Group 1’s President and Chief Executive Officer.
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Share Repurchases & Authorization Increase
The Company announced that its board of directors increased the Company’s common stock share repurchase authorization by $144.2 million to $200.0 million. During February 2022, subsequent to the…
