Magna International (MG) Announces $0.33 Quarterly Dividend

Magna International (TSE:MG) (NYSE:MGA) announced a quarterly dividend on Wednesday, May 9th, Zacks reports. Shareholders of record on Friday, May 25th will be paid a dividend of 0.33 per share on Friday, June 8th. This represents a $1.32 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, May 24th.

Magna International traded up C$0.44, reaching C$85.23, during mid-day trading on Friday, Marketbeat reports. The company had a trading volume of 865,773 shares, compared to its average volume of 1,020,274. Magna International has a 52 week low of C$57.12 and a 52 week high of C$85.32.

Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported C$1.99 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.97 by C$0.02. Magna International had a net margin of 5.28% and a return on equity of 19.24%. The firm had revenue of C$13.20 billion during the quarter, compared to the consensus estimate of C$12.50 billion.

In other news, insider Vincent Joseph Galifi sold 101,656 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of C$73.84, for a total transaction of C$7,506,279.04. Also, insider Sr. James Joseph Tobin sold 10,778 shares of the firm’s stock in a transaction dated Monday, March 26th. The stock was sold at an average price of C$55.12, for a total transaction of C$594,083.36. Insiders have sold a total of 337,434 shares of company stock valued at $25,239,862 over the last ninety days.

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 body systems, including exterior sheetmetal and closure systems, body structure systems, and energy management solutions; chassis systems, such as frames and chassis subframes, suspension links and arms, and chassis modules; and engineering services comprising support, program management, virtual tool, prototype build and validation, testing, and research and development services.

Dividend History for Magna International (TSE:MG)

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