05:30 AM EST, 11/13/2024 (MT Newswires) -- Group 1 Automotive ( GPI ) said late Tuesday its board has increased its share repurchase authorization to $500 million from $333 million.

Repurchases may be made from time to time, based on market conditions, legal requirements and other corporate considerations.

Meanwhile, the company maintained its quarterly dividend at $0.47 per share, payable Dec. 16 to shareholders of record on Dec. 2.