Saturday, February 23, 2019

Dividend Increase – Magna International Inc. (MGA)



Yesterday, February 22 the Board of Directors of Magna International Inc. announced a quarterly dividend increase of from $ 0.33 to $ 0.365 per share that’s payable March 22, 2019 to holders of record March 8, 2019. This represents a 10.6% increase to regular quarterly dividends. With current price $ 54.44 (yesterday's close), this raise brings their dividend yield to 2.68%.

“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



Since I own 50 shares of MGA, this will increase my portfolio's projected annual net dividend income by $ 5.22.


This increase raises my YOC to 3.80%.


Summary of 2019 Dividend Increases / Cuts

No.
Ticker
Increase %
Net Increase
Net Increase
No.
Ticker
Increase %
Net Increase
Net Increase



$



$
1
TSX:CU
7.48%
8.14
9.93
2
O
2.04%
3.00
3.42
3
OKE
0.58%
0.65
0.75
4
WEC
6.79%
1.47
1.68
5
KMB
3.00%
1.02
1.16
6
INTC
5.00%
15.81
17.88
7
 TELIA1
2.61% 
13.00 
14.82 
8
NCC
-50.00%
-86.22
-98.61
9
CVX
6.25%
10.90
12.52
10
UPM
13.04%
122.93
140.95
11
GILD
10.53%
5.47
6.26
12
ADM
4.48%
3.33
3.80
13
MMM
5.88%
1.25
1.43
14
BIP
6.91%
0,77
0,87
15
NESTE
34.12%
172.84
196.45
16
ORNBV
3.45%
11.17
12.70
17
KESKOB
6.36%
10.43
11.85
18
SAMPO
9.62%
28.86
32.77
19
TSX:BCE
4.97%
7.79
8.84
20
TEL2
10.00%
6.42
7.24
21
TROW
8.57%
8.72
9.83
22
SKT
1.43%
1.98
2.24
23
CSCO
6.06%
9.76
11.03
24
PEP
2.96%
7.25
8.19
25
KO
2,56%
3.94
4.47
26
KHC
-36.00%
-59.14
-67.05
27
DLR
6.93%
22.08
25.03
28
MGA
10.61%
4.60
5.22











TOTAL






€338.20
$385.67

Increases have been reported by deducting a 25.5% capital income tax.






Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long MGA

Thanks for stopping by!

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