Sonic Automotive said it has amended and extended its credit facilities that were scheduled to mature in August 2012. The amended credit facilities, which will now mature in August 2016, provide for up to: • $500 million for new vehicle inventory floor plan financing, an increase of $179 million; • $80 million for used vehicle inventory floor plan financing, an increase of $30 [...]
Sonic Automotive said its board of directors has approved a quarterly, 0.025-cent dividend per share payable in cash for shareholders of record as of June 15. The dividend will be payable July 15. Charlotte-based Sonic is an automotive retailer.
Sonic Automotive said it had net income of $14.9 million in the first quarter of 2011, or 27 cents per diluted share, up from $4.15 million, or 12 cents per diluted share, in the year-ago quarter The Charlotte-based automotive retailer said it had $1.8 billion in revenue for the quarter, up from $1.5 billion in the [...]
Charlotte-based Sonic Automotive said Thursday that it has completed the redemption of its outstanding 4.25 percent convertible senior subordinated notes due 2015. To date in 2010, the Fortune 500 automotive retailer said it has repurchased or redeemed $49 million of its outstanding public debt using cash on hand. “At the beginning of this year, we communicated some clear capital [...]