Group 1 Automotive (GPI) Raises Buyback Authorization to $75M

Group 1 Automotive, Inc. (NYSE: GPI) today announced that its board of directors increased the Company's common stock share repurchase authorization to $75.0 million. Purchases may be made from time to time, based on market conditions, legal requirements and other corporate considerations, in the open market or in privately negotiated transactions. The Company expects that any repurchase of shares will be funded by cash from operations. Repurchased shares will be held in treasury.

Group 1's board of directors also declared a cash dividend of $0.24 per share for the first quarter of 2017. The dividend will be payable on June 15, 2017, to stockholders of record on June 1, 2017.

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