Magna International Inc. (TSE:MG) (NYSE:MGA) announced a quarterly dividend on Wednesday, February 21st, Zacks reports. Stockholders of record on Friday, March 9th will be paid a dividend of 0.406 per share on Friday, March 23rd. This represents a $1.62 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, March 8th. This is a positive change from Magna International’s previous quarterly dividend of $0.35.

Shares of Magna International (MG) traded down C$1.12 during trading on Friday, hitting C$67.60. The stock had a trading volume of 1,118,419 shares, compared to its average volume of 1,110,000. The firm has a market capitalization of $24,220.00, a price-to-earnings ratio of 9.03 and a beta of 1.02. Magna International has a twelve month low of C$52.63 and a twelve month high of C$74.75.

In other news, Director Tommy Joseph Skudutis sold 84,000 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of C$71.08, for a total transaction of C$5,970,720.00.

Separately, BMO Capital Markets set a C$61.00 price objective on Magna International and gave the company a “market perform” rating in a report on Thursday, January 18th.

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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.

Dividend History for Magna International (TSE:MG)

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