Magna International Inc. (TSE:MG) Raises Dividend to $0.65 Per Share

Magna International Inc. (TSE:MG) (NYSE:MGA) announced a quarterly dividend on Friday, August 16th, Zacks reports. Stockholders of record on Friday, August 30th will be given a dividend of 0.65 per share on Friday, August 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Friday, August 16th. This is a positive change from Magna International’s previous quarterly dividend of $0.64.

Magna International Price Performance

MG stock opened at C$54.15 on Thursday. Magna International has a 52-week low of C$52.25 and a 52-week high of C$81.65. 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 firm has a market capitalization of C$15.56 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 0.58 and a beta of 1.70. The firm has a 50 day moving average price of C$58.33 and a 200-day moving average price of C$65.81.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Royal Bank of Canada cut shares of Magna International from a “moderate buy” rating to a “hold” rating in a research note on Tuesday. BNP Paribas upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 1st.

Magna International Company Profile

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.