Group 1 Automotive announces increase in 2023 dividend rate

Group 1 Automotive announced its board of directors has approved an increase in the 2023 annual dividend rate to $1.80 per share. This increase represents a 20%, or 30c, increase over 2022’s annual dividend of $1.50 per share. Consistent with this increase, the board of directors declared a 45c dividend per share that will be payable on March 15 to stockholders of record as of March 1. "We are pleased to provide a 20% increase in our annual dividend rate as our strong cash flow continues to enable the Company to reward shareholders. Our top capital allocation priorities continue to be growing our business while also returning capital to our shareholders," said Daryl Kenningham, Group 1’s president and CEO.