Magna International Inc. (TSE:MG) Declares Dividend Increase - $0.49 Per Share

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA declared a quarterly dividend on Friday, February 28th, TickerTech Dividends reports. Stockholders 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 dividend yield of 3.68%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Magna International's previous quarterly dividend of $0.48.

Magna International Stock Performance

Shares of TSE MG traded down C$0.90 during midday trading on Friday, reaching C$52.69. The company's stock had a trading volume of 7,501,454 shares, compared to its average volume of 1,565,370. Magna International has a 12-month low of C$51.34 and a 12-month high of C$75.93. The firm has a 50 day moving average price of C$57.34 and a 200-day moving average price of C$57.88. The stock has a market capitalization of C$10.66 billion, a P/E ratio of 9.89, a PEG ratio of 0.45 and a beta of 1.60. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MG. The Goldman Sachs Group downgraded Magna International from a "hold" rating to a "strong sell" rating in a research note on Wednesday, December 11th. Royal Bank of Canada upgraded Magna International from a "hold" rating to a "moderate buy" rating in a research note on Friday, January 24th. Finally, Wolfe Research upgraded Magna International from a "strong sell" rating to a "hold" rating in a research note 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.