Magna International Inc. (MG) To Go Ex-Dividend on February 28th

Magna International Inc. (TSE:MG) (NYSE:MGA) announced a quarterly dividend on Friday, February 28th, TickerTech Dividends reports. Investors 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 annualized dividend and a yield of 3.54%. 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 Price Performance

Shares of MG traded up C$0.12 during trading hours on Wednesday, reaching C$54.77. 115,099 shares of the company’s stock traded hands, compared to its average volume of 1,309,220. The firm’s 50 day simple moving average is C$57.73 and its 200-day simple moving average is C$57.94. The stock has a market cap of C$11.08 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. Magna International has a 12 month low of C$51.34 and a 12 month high of C$75.93. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 61.81.

Wall Street Analyst Weigh In

MG has been the topic of a number of recent research reports. Royal Bank of Canada raised Magna International from a “hold” rating to a “moderate buy” rating in a research note on Friday, January 24th. The Goldman Sachs Group cut Magna International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 11th. Finally, Wolfe Research raised 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.