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

Magna International Inc. (TSE:MG) (NYSE:MGA) declared a quarterly dividend on Friday, May 3rd, Zacks reports. Shareholders 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 yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from Magna International’s previous quarterly dividend of $0.64.

Magna International Stock Down 3.5 %

TSE MG traded down C$2.31 on Friday, reaching C$63.89. The stock had a trading volume of 1,042,364 shares, compared to its average volume of 1,031,196. The company has a market capitalization of C$18.35 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 0.58 and a beta of 1.68. The business has a 50 day moving average price of C$70.93 and a 200 day moving average price of C$73.13. Magna International has a 1 year low of C$62.90 and a 1 year high of C$87.00. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 58.83.

Magna International (TSE:MG) (NYSE:MGA) last released its quarterly earnings results on Friday, February 9th. The company reported C$1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.99 by C($0.18). Magna International had a return on equity of 10.89% and a net margin of 2.83%. The company had revenue of C$14.23 billion for the quarter, compared to the consensus estimate of C$14.30 billion. On average, analysts forecast that Magna International will post 8.2060185 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reduced their price objective on Magna International from C$61.00 to C$60.00 and set a “sector perform” rating for the company in a research report on Monday, February 12th.

Insider Transactions at Magna International

In other news, Director Seetarama Swamy Kotagiri sold 20,906 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of C$53.98, for a total value of C$1,128,476.61. In related news, Director Seetarama Swamy Kotagiri sold 20,906 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of C$53.98, for a total value of C$1,128,476.61. Also, Senior Officer Boris Shulkin sold 4,646 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$55.05, for a total value of C$255,762.30. Insiders have sold 34,844 shares of company stock valued at $1,887,403 in the last three months. 6.10% of the stock is owned by corporate insiders.

Magna International Company Profile

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.