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

Key Points

• Magna International Inc. declared a quarterly dividend of $0.49 per share, with the ex-dividend date set for August 15th and payment scheduled for August 29th.
• The company has a payout ratio of 33.7%, which indicates that its dividend is sufficiently covered by earnings, with expected earnings of $6.66 per share next year.
• Magna International reported $1.44 EPS for the last quarter, exceeding consensus estimates of $1.19, and generating revenue of $10.82 billion, surpassing expectations of $10.10 billion.

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG declared a quarterly dividend on Monday, August 4th, Wall Street Journal reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.485 per share on Friday, August 29th. This represents a c) annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, August 15th.

Magna International has a payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Magna International to earn $6.66 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 29.1%.

Magna International Stock Down 0.4%

Shares of NYSE:MGA traded down $0.17 during midday trading on Friday, reaching $42.38. The company had a trading volume of 246,638 shares, compared to its average volume of 1,810,948. The business's 50 day moving average price is $39.88 and its 200 day moving average price is $37.42. Magna International has a 1-year low of $30.39 and a 1-year high of $47.22. The company has a quick ratio of 0.74, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The stock has a market cap of $11.94 billion, a PE ratio of 9.95, a P/E/G ratio of 0.96 and a beta of 1.51.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings data on Friday, August 1st. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.19 by $0.25. The company had revenue of $10.82 billion during the quarter, compared to the consensus estimate of $10.10 billion. Magna International had a return on equity of 11.89% and a net margin of 2.91%. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 EPS. Research analysts forecast that Magna International will post 5.87 EPS for the current fiscal year.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.