Group 1 Automotive (GPI) will raise its quarterly dividend to $0.19 per share. The automotive dealership company has paid a dividend every year since 2006.

"Based on Group 1's all-time record earnings results, the board of directors is pleased to reward our shareholders with a significant dividend increase.  We have also expanded our stock repurchase authorization to provide additional future opportunities to return cash to Group 1 shareholders," said Earl J. Hesterberg, Group 1's president and chief executive officer.

Group 1 Automotive, Inc. owns and operates automotive dealerships, franchises, and collision centers in the United States, the United Kingdom and Brazil. Through its dealerships, the company sells new and used cars and light trucks; arranges related vehicle financing; sells service contracts; provides automotive maintenance and repair services; and sells vehicle parts.