Magna International Inc. (TSE:MG) (NYSE:MGA) announced a quarterly dividend on Wednesday, February 21st, Zacks reports. Shareholders of record on Friday, March 9th will be paid a dividend of 0.406 per share on Friday, March 23rd. This represents a $1.62 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, March 8th. This is a boost from Magna International’s previous quarterly dividend of $0.35.
Shares of Magna International (TSE MG) opened at C$68.95 on Wednesday. The stock has a market capitalization of $24,710.00, a P/E ratio of 9.21 and a beta of 1.02. Magna International has a 12-month low of C$52.63 and a 12-month high of C$74.75.
Separately, BMO Capital Markets set a C$61.00 target price on Magna International and gave the company a “market perform” rating in a research note on Thursday, January 18th.
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About Magna International
Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers engineering and contract manufacturing services, and fuel systems; electric/electronic components and systems; roof systems comprising softtops, retractable hardtops, modular tops, and hardtops; and closures, including latching systems, hinges and wire forming, power closures, electronics, door modules, window systems engineered glass, sealing, trim and roof racks, roof systems, testing centers, and running boards.
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