Magna International Inc. (TSE:MG) Plans 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 given a dividend of 0.485 per share on Friday, March 14th. This represents a $1.94 annualized dividend and a dividend yield of 3.56%. 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 Down 0.3 %

MG stock traded down C$0.15 during midday trading on Wednesday, reaching C$54.50. 163,024 shares of the company were exchanged, compared to its average volume of 1,310,658. The stock’s 50-day simple moving average is C$57.73 and its 200 day simple moving average is C$57.94. The company has a debt-to-equity ratio of 61.81, a quick ratio of 0.83 and a current ratio of 1.14. Magna International has a 1-year low of C$51.34 and a 1-year high of C$75.93. The company has a market cap 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.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MG shares. 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 report on Thursday, December 5th. Finally, Royal Bank of Canada raised shares of Magna International from a “hold” rating to a “moderate buy” rating in a research 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.