Magna International Inc. (TSE:MG) Announces Dividend Increase – $0.65 Per Share

Magna International Inc. (TSE:MG) (NYSE:MGA) declared a quarterly dividend on Friday, August 2nd, Zacks reports. Stockholders of record on Friday, August 16th will be given a dividend of 0.65 per share on Friday, August 30th. This represents a $2.60 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from Magna International’s previous quarterly dividend of $0.64.

Magna International Stock Performance

TSE MG opened at C$56.07 on Friday. The company has a market cap of C$16.11 billion, a P/E ratio of 11.68, a P/E/G ratio of 0.58 and a beta of 1.70. The company has a debt-to-equity ratio of 66.45, a quick ratio of 0.83 and a current ratio of 1.09. The business’s 50 day moving average price is C$59.54 and its 200-day moving average price is C$67.00. Magna International has a fifty-two week low of C$55.58 and a fifty-two week high of C$87.00.

Magna International (TSE:MG) (NYSE:MGA) last released its earnings results on Friday, May 3rd. The company reported C$1.46 earnings per share for the quarter, missing the consensus estimate of C$1.67 by C($0.21). The company had revenue of C$14.79 billion for the quarter, compared to the consensus estimate of C$14.96 billion. Magna International had a net margin of 2.35% and a return on equity of 9.35%. Sell-side analysts predict that Magna International will post 7.7401198 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MG. BNP Paribas raised Magna International from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 1st. Royal Bank of Canada raised Magna International from a “hold” rating to a “moderate buy” rating in a research report on Monday, July 29th.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.