Magna International Inc. (TSE:MG) Increases Dividend to $0.49 Per Share

Magna International Inc. (TSE:MG) (NYSE:MGA) announced a quarterly dividend on Friday, February 28th, TickerTech Dividends reports. Stockholders 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 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Friday, February 28th. This is a boost from Magna International’s previous quarterly dividend of $0.48.

Magna International Stock Up 0.2 %

TSE:MG traded up C$0.12 during trading hours on Wednesday, hitting C$54.77. The company’s stock had a trading volume of 115,099 shares, compared to its average volume of 1,309,220. The stock has a market capitalization of C$11.08 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. The stock has a fifty day moving average of C$57.73 and a 200-day moving average of C$57.94. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 61.81. Magna International has a 52-week low of C$51.34 and a 52-week high of C$75.93.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wolfe Research upgraded Magna International from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 5th. The Goldman Sachs Group downgraded Magna International from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada upgraded Magna International from a “hold” rating to a “moderate buy” rating in a report on Friday, January 24th.

About Magna International

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.