Magna International Inc. (MGA) to Issue Quarterly Dividend of $0.49 on November 27th

Magna International Inc. (NYSE:MGA) (TSE:MG) declared a quarterly dividend on Thursday, October 29th. Investors of record on Friday, November 13th will be paid a dividend of $0.4950 per share on Friday, November 27th. This represents a $1.98 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 13th.

Magna International has decreased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 6 years. Magna International has a dividend payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Magna International to earn $7.84 per share next year, which means the company should continue to be able to cover its $1.98 annual dividend with an expected future payout ratio of 25.3%.

Magna International Stock Up 1.2%

Shares of NYSE:MGA traded up $0.70 during midday trading on Wednesday, hitting $62.01. The stock had a trading volume of 115,507 shares, compared to its average volume of 1,478,077. The business’s 50-day simple moving average is $64.49 and its 200-day simple moving average is $62.94. The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 0.33. The company has a market cap of $16.02 billion, a P/E ratio of 19.87, a PEG ratio of 0.67 and a beta of 1.46. Magna International has a 12 month low of $45.33 and a 12 month high of $73.22.

Magna International (NYSE:MGA) (TSE:MG) last issued its earnings results on Friday, October 30th. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.58 by $0.25. The firm had revenue of $9.86 billion during the quarter, compared to the consensus estimate of $10.01 billion. Magna International had a return on equity of 16.26% and a net margin of 1.99%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 earnings per share. On average, sell-side analysts forecast that Magna International will post 7.07 earnings per share for the current fiscal year.

About Magna International

Magna International is a Canadian mobility technology supplier that designs and manufactures components, systems and complete vehicles for automakers. Its products and services support a range of vehicle types, including those with electric and advanced driver-assistance technologies. The company’s operations include body and exterior systems, seating, powertrain and electronics, as well as vehicle engineering and contract manufacturing. Its portfolio also includes products such as mirrors, lighting systems and roof systems.