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

Magna International Inc. (TSE:MG) (NYSE:MGA) announced a quarterly dividend on Friday, February 28th, TickerTech Dividends reports. Investors 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 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Magna International’s previous quarterly dividend of $0.48.

Magna International Stock Performance

TSE:MG traded up C$0.12 on Wednesday, hitting C$54.77. The company’s stock had a trading volume of 99,795 shares, compared to its average volume of 1,309,007. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 61.81. The stock has a fifty day moving average of C$57.73 and a two-hundred day moving average of C$57.94. Magna International has a one year low of C$51.34 and a one year high of C$75.93. The firm has a market capitalization of C$11.08 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MG shares. The Goldman Sachs Group downgraded shares of Magna International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 11th. Royal Bank of Canada upgraded shares of Magna International from a “hold” rating to a “moderate buy” rating in a research report on Friday, January 24th. Finally, Wolfe Research upgraded shares of Magna International from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 5th.

Magna International Company Profile

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.