Magna International Inc. (MG) to Issue Quarterly Dividend of $0.49 on March 14th

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 3.56%. The ex-dividend date is Friday, February 28th. This is a positive change from Magna International’s previous quarterly dividend of $0.48.

Magna International Stock Down 0.3 %

Shares of MG traded down C$0.15 on Wednesday, reaching C$54.50. The stock had a trading volume of 163,024 shares, compared to its average volume of 1,310,658. The company has a 50-day simple moving average of C$57.73 and a 200-day simple moving average of C$57.94. Magna International has a 12-month low of C$51.34 and a 12-month high of C$75.93. The firm has a market capitalization of C$11.02 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. The company has a debt-to-equity ratio of 61.81, a quick ratio of 0.83 and a current ratio of 1.14.

Analyst Ratings Changes

Several research firms have recently weighed in on MG. Royal Bank of Canada raised Magna International from a “hold” rating to a “moderate buy” rating in a report on Friday, January 24th. 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, The Goldman Sachs Group cut shares of Magna International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 11th.

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.