Magna International Inc. (TSE:MG) to Issue Quarterly Dividend of $0.64

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 given 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 4.02%. The ex-dividend date is Thursday, May 16th. This is a boost from Magna International’s previous quarterly dividend of $0.64.

Magna International Stock Performance

TSE:MG opened at C$63.89 on Friday. Magna International has a twelve month low of C$62.90 and a twelve month high of C$87.00. The company has a market cap of C$18.35 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.58 and a beta of 1.68. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 58.83. The company’s 50-day moving average price is C$70.74 and its 200-day moving average price is C$73.08.

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

Insider Buying and Selling

In other Magna International news, Director Seetarama Swamy Kotagiri sold 20,906 shares of Magna International stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of C$53.98, for a total transaction of C$1,128,476.61. In other Magna International news, Director Seetarama Swamy Kotagiri sold 20,906 shares of Magna International 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. Also, Senior Officer Boris Shulkin sold 4,646 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of C$55.05, for a total value of C$255,762.30. Over the last ninety days, insiders sold 34,844 shares of company stock worth $1,887,403. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

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

View Our Latest Research Report 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.

See Also

Dividend History for Magna International (TSE:MG)

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