Magna International Inc. (TSE:MG) Announces Quarterly Dividend of $0.49

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 annualized dividend and a yield of 3.55%. 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 Stock Performance

TSE MG traded down C$0.04 during midday trading on Wednesday, hitting C$54.61. The company had a trading volume of 85,523 shares, compared to its average volume of 1,308,742. The firm has a fifty day simple moving average of C$57.73 and a two-hundred day simple moving average of C$57.94. Magna International has a fifty-two week low of C$51.34 and a fifty-two week high of C$75.93. The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 61.81. The stock has a market cap of C$11.05 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 0.45 and a beta of 1.60.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. The Goldman Sachs Group cut shares of Magna International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 11th. Wolfe Research upgraded shares of Magna International from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 5th. 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.