Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$73.84 and last traded at C$72.07, with a volume of 3257080 shares traded. The stock had previously closed at C$70.52.

The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were paid a dividend of $0.354 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from Magna International’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, November 22nd. Magna International’s dividend payout ratio is presently 14.99%.

In related news, Director Donald James Walker sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of C$67.37, for a total transaction of C$13,474,000.00. Also, Director Tommy Joseph Skudutis sold 84,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of C$71.08, for a total transaction of C$5,970,720.00. Insiders have sold 531,122 shares of company stock worth $36,350,412 over the last 90 days.

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Magna International Company Profile

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers engineering and contract manufacturing services, and fuel systems; electric/electronic components and systems; roof systems comprising softtops, retractable hardtops, modular tops, and hardtops; and closures, including latching systems, hinges and wire forming, power closures, electronics, door modules, window systems engineered glass, sealing, trim and roof racks, roof systems, testing centers, and running boards.

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