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Group 1 Automotive Boosts Dividend, Stock Repurchase Authorization
(RTTNews) - Automotive retailer Group 1 Automotive, Inc. (GPI) announced Wednesday its board of directors increased the Company's common stock repurchase authorization by $161 million to $200 million. The Company expects that any repurchase of shares will be funded by cash from operations. Repurchased shares will be held in treasury.
Group 1's board of directors also declared a 2.6 percent higher cash dividend of $0.39 per share for the third quarter of 2022, payable on December 15, 2022, to stockholders of record as of December 1, 2022.
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Group 1 Automotive To Cut U.K. Headcount By Approximately 10% - Update
While reporting financial results for the fourth quarter on Wednesday, Group 1 Automotive, Inc. (GPI) President and Chief Executive Officer Daryl Kenningham said the automotive retailer expects to cut its U.K. headcount by approximately 10 percent as it focuses on reducing costs in the U.K. in the first quarter of 2024.
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Lower Open Called For Taiwan Stock Market
The Taiwan stock market on Tuesday ended the two-day winning streak in which it had picked up almost 250 points or 1 percent. The Taiwan Stock Exchange now sits just above the 24,350-point plateau and it may be stuck in neutral in again on Wednesday.
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Japan Has Y117.550 Billion Trade Deficit In July
Japan posted a merchandise trade deficit of 117.550 billion yen in July, the Ministry of Finance said on Wednesday.
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Renewed Consolidation Likely For Singapore Shares
The Singapore stock market on Tuesday ended the three-day slide in which it had dropped more than 80 points or 1.9 percent. The Straits Times Index now sits just above the 4,215-point plateau although it figures to head south again on Wednesday.
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Japan Core Machinery Orders Climb 3.0% In June
The value of core machinery orders in Japan was up a seasonally adjusted 3.0 percent on month in June, the Cabinet Office said on Wednesday - coming in at 941.2 billion yen.
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Rally May Stall For Malaysia Stock Market
The Malaysia stock market has moved higher in two straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,590-point plateau although it may run out of steam on Wednesday.
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Japan Shares May Extend Tuesday's Losses
The Japan stock market on Tuesday ended the two-day winning streak in which it had surged more than 1,120 points or 2.8 percent. The Nikkei 225 now sits just beneath the 43,550-point plateau and the losses may accelerate on Wednesday.
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Tech Shares May Drag South Korea Lower On Wednesday
The South Korea stock market has moved lower in back-to-back sessions, sinking almost 75 points or 2.4 percent along the way. The KOSPI now sits just above the 3,150-point plateau and it may take further damage again on Wednesday.
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