Magna International Boosts Quarterly Dividend by 3% to $0.475/Share
Portfolio Pulse from Benzinga Newsdesk
Magna International announced a 3% increase in its quarterly dividend to $0.475 per share, marking the 14th consecutive year of fourth quarter dividend increases. The dividend is payable on March 8, 2024, to shareholders of record as of February 23, 2024.
February 09, 2024 | 10:08 am
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Magna International has increased its quarterly dividend by 3% to $0.475 per share, marking a consistent 14-year streak of dividend growth in the fourth quarter.
Dividend increases are generally viewed positively by the market as they signal confidence in the company's financial health and future prospects. Magna International's consistent history of dividend growth, especially for the 14th consecutive year, is likely to be seen as a strong indicator of stability and reliability, potentially attracting dividend-focused investors and positively impacting the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100