Lithia Motors, Inc. Declares Dividend for the Fourth Quarter Ended December 31, 2018, Payable on March 22, 2019; Announces Management Changes
February 13, 2019 at 07:00 am EST
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Lithia Motors, Inc.'s board of directors approved a dividend of $0.29 per share related to fourth quarter 2018 financial results. The company expects to pay the dividend on March 22, 2019 to shareholders of record on March 8, 2019.
The company announced that John North has provided notice of his intention to resign from the position of Senior Vice President and Chief Financial Officer effective March 1, 2019, following the filing of the company's 2018 annual report on Form 10-K. Tina Miller, Vice President and Corporate Controller, will be appointed interim Principal Financial Officer effective March 1, 2019 while the company conducts a search for a new Chief Financial Officer.
Lithia Motors, Inc. is a global automotive retailer. The Company is engaged in providing an array of products and services throughout the vehicle ownership lifecycle. The Company offers convenient experiences through its comprehensive network of physical locations, e-commerce platforms, captive finance solutions and other synergistic adjacencies. The Company operates through two segments: Vehicle Operations and Financing Operations. Its Vehicle Operations consist of all aspects of its auto merchandising and service operations, including its retail automotive, recreational vehicles, and motorcycle franchises that sell new vehicles, used vehicles, parts, repair and maintenance services, and vehicle finance and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles from its Vehicle Operations. The Company operates approximately 344 locations representing 47 brands across the United States, United Kingdom, and Canada.