SOURCE: Group 1 Automotive, Inc.

Group 1 Automotive, Inc.

February 17, 2011 09:05 ET

Group 1 Automotive Increases Quarterly Cash Dividend 10 Percent

HOUSTON, TX--(Marketwire - February 17, 2011) - Group 1 Automotive, Inc. (NYSE: GPI), a Fortune 500 automotive retailer, announced that its board of directors declared a cash dividend of $0.11 per share for the fourth quarter of 2010. The dividend, which represents a 10 percent, or $0.01, increase per share from the third quarter, will be paid on March 15, 2011, to stockholders of record on March 1, 2011.

"The 10 percent dividend increase announced today demonstrates the confidence that the board of directors has in Group 1's financial strength," said Earl J. Hesterberg, Group 1's president and chief executive officer. "While we remain focused on growing the company, we are also pleased to be able to share some of the benefits of our improved operating results directly with our shareholders."

About Group 1 Automotive, Inc.
Group 1 owns and operates 100 automotive dealerships, 129 franchises, and 25 collision service centers in the United States and the United Kingdom that offer 30 brands of automobiles. Through its dealerships, the company sells new and used cars and light trucks; arranges related financing, vehicle service and insurance contracts; provides maintenance and repair services; and sells replacement parts.

Group 1 Automotive can be reached on the Internet at www.group1auto.com.

This press release contains "forward-looking statements," which are statements related to future, not past, events and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "may" or "will" and similar expressions. Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause actual results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of manufacturer incentives, (c) the future regulatory environment, (d) our ability to obtain an inventory of desirable new and used vehicles, (e) our relationship with our automobile manufacturers and the willingness of manufacturers to approve future acquisitions, (f) our cost of financing and the availability of credit for consumers, (g) our ability to complete acquisitions and dispositions and the risks associated therewith, (h) foreign exchange controls and currency fluctuations, and (i) our ability to retain key personnel. These factors, as well as additional factors that could affect our forward-looking statements, are described in our Form 10-K under the headings "Business -- Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook, whether as a result of new information, future developments or otherwise, except as may be required by law.

Contact Information

  • Investor contacts:
    Kim Paper Canning, Manager, Investor Relations | Group 1 Automotive Inc. |
    713-647-5741 | Email Contact

    Media contacts:
    Pete DeLongchamps, Vice President, Manufacturer Relations and Public
    Affairs | Group 1 Automotive Inc. | 713-647-5770 |
    Email Contact

    or

    Clint Woods, Pierpont Communications, Inc. | 713-627-2223 |
    Email Contact