Group 1 Automotive Boosts Dividend, Stock Buyback Authorization

(RTTNews) - Automotive retailer Group 1 Automotive, Inc. (GPI) said Friday that its board of directors has declared a cash dividend of $0.19 per share for the third quarter of 2014.

The dividend, which represents an increase of 11.8%, or $0.02 per share, from the second quarter of 2014, will be payable on December 15 to shareholders of record on December 1.

The company also said that its board has increased the Company's common stock share repurchase authorization to $100.0 million.

The company expects that any repurchase of shares will be funded by cash from operations. Repurchased shares will be held in treasury.