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

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

Magna International Trading Up 0.2 %

Shares of Magna International stock traded up C$0.12 during trading on Wednesday, hitting C$54.77. 99,795 shares of the company were exchanged, compared to its average volume of 1,309,007. The firm 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 firm’s fifty day moving average price is C$57.73 and its 200 day moving average price is C$57.94. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83. Magna International has a 1-year low of C$51.34 and a 1-year high of C$75.93.

Analysts Set New Price Targets

MG has been the subject of several recent analyst reports. Wolfe Research raised shares of Magna International from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 5th. The Goldman Sachs Group lowered shares of Magna International from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada raised Magna International from a “hold” rating to a “moderate buy” rating in a research note 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.