Why it matters: Eagers Automotive is Australia’s largest car dealership group with 200 showrooms and is paying out a record first half dividend.
Rich Lister Nick Politis owns 27.6 per cent of Eagers and his share of the 24 cents per share dividend amounts to $17 million.
CEO Keith Thornton says the group has a new vehicle order book which will take 22 months to run off, and 10 per cent of all its deliveries are now electric vehicles.
Australia’s largest car dealership group, Eagers Automotive, is paying out a record first-half dividend to shareholders including Rich Lister Nick Politis, who will collect $17 million because he owns 27.6 per cent of the company.
Eagers, which operates 200 showrooms selling popular brands including Toyota, Ford, Volkswagen, Honda, BMW and Subaru, and also distributes the fast-growing electric vehicle brand BYD, said the record payout was a sign of its bullish outlook, with profit margins high and a 22-month backlog of orders still to be delivered to customers.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
