Magna International Inc. (MG) to Issue Quarterly Dividend of C$0.25 on December 9th
Magna International Inc. (TSE:MG) (NYSE:MGA) declared a quarterly dividend on Thursday, November 3rd. Investors of record on Friday, November 25th will be paid a dividend of 0.25 per share on Friday, December 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Tuesday, November 22nd.
Magna International (TSE:MG) opened at 54.83 on Monday. The company has a 50-day moving average of $54.33 and a 200-day moving average of $51.99. The stock has a market capitalization of $21.08 billion and a price-to-earnings ratio of 10.77. Magna International has a one year low of $42.09 and a one year high of $61.98.
A number of equities analysts have recently issued reports on MG shares. CIBC increased their price objective on shares of Magna International from C$45.00 to C$47.00 and gave the company a “sector perform” rating in a research note on Monday, August 8th. TD Securities increased their price objective on shares of Magna International from C$46.00 to C$47.00 and gave the company a “buy” rating in a research note on Monday, August 8th. Macquarie reiterated an “outperform” rating on shares of Magna International in a research note on Wednesday, September 28th. Finally, Scotiabank set a C$65.00 price objective on shares of Magna International and gave the company an “outperform” rating in a research note on Friday, November 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of C$62.50.
About Magna International
Magna International Inc (Magna) is an automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. Its product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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