Magna International Inc. has announced a quarterly dividend of $0.485 per share, which will be paid to investors on record as of November 14, 2023. The dividend is scheduled for distribution on November 28, 2023. This announcement reflects the company’s ongoing commitment to returning value to its shareholders, showcasing a yield of 3.9% on an annualized basis.
The ex-dividend date, also set for November 14, 2023, is significant as it marks the cutoff for investors to qualify for the upcoming dividend. Over the past three years, Magna has maintained a stable dividend payment rate, with an average decrease of 0.0% annually. Notably, the company has increased its dividend for six consecutive years, indicating a consistent growth strategy.
Magna’s dividend payout ratio stands at 33.7%, suggesting that earnings sufficiently cover the dividend. Analysts project that the company will earn $6.66 per share in the upcoming year, allowing it to comfortably sustain its annual dividend of $1.94. This results in an anticipated future payout ratio of 29.1%, which further supports the stability of the dividend.
Financial Overview and Market Performance
As of the latest trading session, Magna’s stock opened at $49.84. The company has demonstrated a solid financial position, with a market capitalization of $14.05 billion. Key financial ratios include a debt-to-equity ratio of 0.39, a quick ratio of 0.82, and a current ratio of 1.16. The price-to-earnings (P/E) ratio is recorded at 11.70, while the P/E/G ratio is 1.00, indicating a balanced valuation relative to growth expectations.
Magna’s stock has fluctuated over the past year, reaching a low of $30.39 and a high of $50.35. The company’s 50-day simple moving average is $46.60, with a 200-day simple moving average at $42.12.
About Magna International
Magna International Inc. is a global leader in the automotive parts industry, specializing in the design, engineering, and manufacturing of components and systems for original equipment manufacturers (OEMs) of vehicles and light trucks. The company operates through four primary segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles. With a strong focus on innovation and sustainability, Magna continues to position itself as a critical player in the evolving automotive landscape.
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