Royal Bank of Canada downgraded shares of Magna International (TSE:MG – Free Report) (NYSE:MGA) from a moderate buy rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.
Separately, BNP Paribas upgraded shares of Magna International from a hold rating to a strong-buy rating in a report on Monday, July 1st.
Check Out Our Latest Research Report on Magna International
Magna International Stock Up 3.5 %
Magna International Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Friday, August 16th. This is an increase from Magna International’s previous quarterly dividend of $0.64. Magna International’s payout ratio is 53.75%.
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.
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