Magna International (MGA) Raises Quarterly Dividend 10.6% to $0.365; 2.8% Yield

Magna International (NYSE: MGA) declared a quarterly dividend of $0.365 per share, or $1.46 annualized. This is a 10.6% increase from the prior dividend of $0.33.

The dividend will be payable on March 22, 2019, to stockholders of record on March 8, 2019, with an ex-dividend date of March 7, 2019.

The annual yield on the dividend is 2.8 percent.

“Our financial strategy remains focused on maintaining a strong balance sheet, reinvesting in the business, and returning capital to shareholders. In 2018, we returned $2.3 billion to our shareholders between share buybacks and dividends while simultaneously investing $1.7 billion in fixed assets. Our 11% dividend increase, the tenth consecutive annual 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.

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