Lithia Motors hikes dividend by 12.9%

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Lithia Motors (LAD) will raise its quarterly dividend 12.9 percent to 35 cents per share in 2021. This follows a dividend hike of 3.3 percent to 31 cents per share in 2020 and marks the 11th consecutive year of dividend increases by the company.

The next dividend will be paid on May 21, 2021 to shareholders of record on May 7, 2021. A new annual rate of $1.40 per share yields 0.4% at a stock price of $379.

Lithia Motors, Inc. is an operator of automotive franchises and a retailer of new and used vehicles and related services. The company also arranges finance, warranty, and credit insurance contracts. In addition, Lithia provides vehicle parts, maintenance and repair services at all of its locations.

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