Magna International Inc. (TSE:MG) Raises Dividend to $0.64 Per Share

Magna International Inc. (TSE:MGGet Free Report) (NYSE:MGA) announced a quarterly dividend on Friday, May 3rd, Zacks reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.642 per share on Friday, May 31st. This represents a $2.57 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from Magna International’s previous quarterly dividend of $0.64.

Magna International Stock Up 0.3 %

MG stock traded up C$0.19 during midday trading on Wednesday, hitting C$65.08. 1,266,799 shares of the company’s stock were exchanged, compared to its average volume of 1,095,050. The stock has a market capitalization of C$18.70 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.58 and a beta of 1.68. The company has a current ratio of 1.09, a quick ratio of 0.83 and a debt-to-equity ratio of 66.45. The firm has a 50 day moving average price of C$69.58 and a 200-day moving average price of C$72.87. Magna International has a 12-month low of C$62.84 and a 12-month high of C$87.00.

Insider Buying and Selling

In related news, Senior Officer Boris Shulkin sold 4,646 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$55.05, for a total value of C$255,762.30. In other news, Senior Officer Boris Shulkin sold 4,646 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of C$55.05, for a total transaction of C$255,762.30. Also, Director Seetarama Swamy Kotagiri sold 20,906 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of C$53.98, for a total value of C$1,128,476.61. Insiders have sold a total of 34,844 shares of company stock valued at $1,887,403 over the last three months. Company insiders own 6.19% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada dropped their target price on shares of Magna International from C$61.00 to C$60.00 and set a “sector perform” rating on the stock in a report on Monday, February 12th.

Get Our Latest Stock Analysis on Magna International

About Magna International

(Get Free Report)

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.

Further Reading

Dividend History for Magna International (TSE:MG)

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