Magna International (MG) Hits New 1-Year High at $73.84

Magna International Inc. (TSE:MG) (NYSE:MGA) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$73.84 and last traded at C$72.07, with a volume of 3257080 shares changing hands. The stock had previously closed at C$70.52.

The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were given a dividend of $0.354 per share. This is an increase from Magna International’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, November 22nd. This represents a $1.42 annualized dividend and a yield of 1.92%. Magna International’s dividend payout ratio is 14.99%.

In related news, Director Donald James Walker sold 200,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of C$67.37, for a total transaction of C$13,474,000.00. Also, insider Marc Joseph Neeb sold 43,332 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of C$67.20, for a total transaction of C$2,911,910.40. In the last quarter, insiders have sold 531,122 shares of company stock worth $36,350,412.

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About Magna International

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers engineering and contract manufacturing services, and fuel systems; electric/electronic components and systems; roof systems comprising softtops, retractable hardtops, modular tops, and hardtops; and closures, including latching systems, hinges and wire forming, power closures, electronics, door modules, window systems engineered glass, sealing, trim and roof racks, roof systems, testing centers, and running boards.

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