Group 1 Automotive (GPI) will raise its quarterly dividend by another 3.4 percent to $0.30 per share in 2020. Last year the car dealership company raised its dividend by 11.5 percent. The dividend has been raised for 10 consecutive years by GPI if the calendar year 2020 is included.

The next dividend will be payable on March 16, 2020, to stockholders of record as of March 2, 2020. A new annual rate of $1.20 per share yields 2.3% at a stock price of $51.74.

Group 1 Automotive, Inc. owns and operates automotive dealerships, franchises, and collision centers in the United States, the United Kingdom and Brazil that offer 31 brands of automobiles. 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. Group 1 Automotive became a public company in October 1997 and restarted a quarterly payment in 2010 following the suspension of its dividend in 2009 during the financial crisis.