Group 1 Automotive, an automotive retailer, said its board has increased the company’s share repurchase authorization to $75 million. The company also said it will pay a Q1 dividend of $0.24 per share, consistent with the prior quarter. The dividend will be payable on June 15 to stockholders of record June 1.
The board also elected Stephen Quinn to serve as non-executive chairman. Quinn has served as a director since May 2002. He replaces John Adams, who served as chairman for 12 years and will continue as a director and chairman of the company’s finance/risk management committee.