Sonic Automotive hikes dividend by 20%

Sonic Automotive (SAH) will raise its quarterly dividend by 20 percent to 12 cents per share in 2021. This follows a 66.7 percent hike to $0.10 per share in the first quarter of 2019. 

The increased dividend is payable on July 15, 2021 to all stockholders of record on June 15, 2021. The new annual rate of 48 cents per share yields 0.9% at a stock price of $50.88.

Sonic Automotive, Inc. is an automotive retailer. The company represents approximately 25 different car brands with the majority of our dealerships being luxury and import brands. Sonic Automotive also operates collision repair centers and pre-owned vehicle stores. SAH, based in Charlotte, N.C., became a public company in 1997.