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PAG Breaks Above 2% Yield Territory

By Dividend Channel Staff, Thursday, August 18, 3:11 PM ET
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In trading on Thursday, shares of Penske Automotive Group Inc (NYSE:PAG) were yielding above the 2% mark based on its quarterly dividend (annualized to $0.32), with the stock changing hands as low as $15.98 on the day. Dividends are particularly important for investors to consider, because historically speaking dividends have provided a considerable share of the stock market's total return. To illustrate, suppose for example you purchased shares of the iShares Russell 3000 ETF (IWV) back on 5/31/2000 you would have paid $78.27 per share. Fast forward to 5/31/2011 and each share was worth $80.78 on that date, a mere $2.51 or 3.2% increase over eleven years. But now consider that you collected a whopping $9.69 per share in dividends over the same period, increasing your return to 20.27%. Even with dividends reinvested, that only amounts to an average annual total return of about 1.7%; so by comparison collecting a yield above 2% would appear considerably attractive if that yield is sustainable. Penske Automotive Group Inc (NYSE:PAG) is a member of the Russell 3000, giving it special status as one of the largest 3000 companies on the U.S. stock markets.

In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of Penske Automotive Group Inc, looking at the history chart for PAG below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 2% annual yield.

PAG Dividend History
Date Div*
08/08/11 0.080
05/18/11 0.070
11/06/08 0.090
08/07/08 0.090
05/08/08 0.090
02/07/08 0.090
11/07/07 0.090
08/08/07 0.070
05/09/07 0.070
02/08/07 0.070
11/08/06 0.070
08/08/06 0.070
05/09/06 0.140
02/08/06 0.120
11/08/05 0.120
08/08/05 0.110
05/06/05 0.110
02/08/05 0.110
11/08/04 0.110
08/05/04 0.100
05/06/04 0.100
02/05/04 0.100
11/06/03 0.100
* Data may be adjusted for splits; we are not responsible for data errors; always verify data with the company.

According to the ETF Finder at ETF Channel, PAG makes up 1.02% of the SPDR S&P Retail ETF (AMEX:XRT) which is trading lower by about 4.9% on the day Thursday.

See what other ETFs contain PAG
See what other stocks are held by XRT

PAG operates in the Auto Dealerships sector, among companies like KAR Auction Services Inc. (NYSE:KAR) which is off about 2.1% today, and Advance Auto Parts Inc (NYSE:AAP) trading lower by about 1.3%. Below is a three month price history chart comparing the stock performance of PAG, versus KAR and AAP.

PAG,KAR,AAP Relative Performance Chart


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