Magna International (NYSE: MGA) declared a quarterly dividend of $0.33 per share, or $1.32 annualized. This is a 20% increase from the prior dividend of $0.2750.

The dividend will be payable on March 23, 2018, to stockholders of record on March 9, 2018, with an ex-dividend date of March 8, 2018.

The annual yield on the dividend is 2.4 percent.

“Our strong earnings growth and cash flow have enabled us to return significant amounts of capital to shareholders. Our 20% dividend increase, the ninth consecutive annual dividend increase, reflects the confidence that both management and our Board have in Magna’s future.” Vince Galifi, Magna’s Chief Financial Officer

For a dividend history and other dividend-related data on Magna International (MGA) click here.