Magna International Inc. (NYSE:MGA) Shareholders to Get $0.49 Quarterly Dividend

Magna International Inc. (NYSE:MGA) (TSE:MG) declared a quarterly dividend on Thursday, October 29th. Investors of record on Friday, November 13th will be given a dividend of $0.4950 per share on Friday, November 27th. This represents a $1.98 annualized dividend 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 raised its dividend annually for the last 6 consecutive years. Magna International has a payout ratio of 34.4% indicating that 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 Performance

NYSE:MGA opened at $61.35 on Wednesday. The stock has a 50-day simple moving average of $64.49 and a two-hundred day simple moving average of $62.94. Magna International has a 52-week low of $45.33 and a 52-week high of $73.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.14. The firm has a market capitalization of $15.85 billion, a PE ratio of 19.66, a P/E/G ratio of 0.67 and a beta of 1.46.

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

Magna International Company Profile

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.