Magna International Inc. (TSE:MG) Announces Dividend Increase – $0.49 Per Share

Magna International Inc. (TSE:MG) (NYSE:MGA) declared a quarterly dividend on Friday, February 28th, TickerTech Dividends reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.485 per share on Friday, March 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, February 28th. This is an increase from Magna International’s previous quarterly dividend of $0.48.

Magna International Stock Down 0.1 %

Magna International stock traded down C$0.04 during midday trading on Wednesday, hitting C$54.61. 85,523 shares of the company were exchanged, compared to its average volume of 1,308,742. The company has a market cap of C$11.05 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. Magna International has a fifty-two week low of C$51.34 and a fifty-two week high of C$75.93. The company’s fifty day moving average price is C$57.73 and its 200-day moving average price is C$57.94. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Royal Bank of Canada upgraded shares of Magna International from a “hold” rating to a “moderate buy” rating in a research note on Friday, January 24th. The Goldman Sachs Group cut shares of Magna International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 11th. Finally, Wolfe Research raised Magna International from a “strong sell” rating to a “hold” rating in a report on Thursday, December 5th.

Magna International Company Profile

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier’s product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.