Magna Int'l (MGA) Tops Q4 EPS Views; Approves Two-for-One Split

Magna Int'l (NYSE: MGA) reported Q4 EPS of $2.44, $0.19 better than the analyst estimate of $2.25. Revenue for the quarter came in at $9.4 billion versus the consensus estimate of $9.08 billion.

Magna's Board of Directors has approved a two-for-one stock split of the Company's outstanding Common Shares. The two-for-one stock split will be implemented by way of a stock dividend. Subject to regulatory approval, shareholders will receive one additional Common Share of the Company for each Common Share held. The stock dividend will be payable on March 25, 2015, to shareholders of record at the close of business on March 11, 2015.

The Company's Common Shares will commence trading on a "due bill" basis, at the opening of business on Monday, March 9, 2015 until Wednesday, March 25, 2015, inclusively. Accordingly, ex-dividend (post-split) trading in the Common Shares will commence on the Toronto Stock Exchange ("TSX") at the opening of business on Thursday, March 26, 2015.

The TSX has been advised that trading in the Common Shares on the New York Stock Exchange ("NYSE") from March 9, 2015 until March 25, 2015, inclusively, will also be on a "due bill" basis and that ex-distribution (post-split) trading in the Common Shares will commence on the NYSE on March 26, 2015.

The Company is ascribing no monetary value to the stock dividend. All equity-based compensation plans or arrangements and our normal course issuer bid will be adjusted to reflect the stock split. Shareholders should retain their existing share certificates and not return their share certificates to the Company or its transfer agent.

For earnings history and earnings-related data on Magna Int'l (MGA) click here.

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