Magna International Inc. develops, manufactures,
engineers, supplies, and sells automotive products. It operates through North
America, Europe, Asia, and Rest of World segments. The company offers body and
chassis systems, and related engineering services; seating systems, including
complete seating systems, seat structures and mechanisms, and foam and trim
products; and powertrain systems, such as transmissions, driveline systems,
fluid pressure and controls, metal forming solutions, and engineering services.
It also provides vision systems comprising interior and exterior mirrors,
actuators, door handle illumination products, headlamps and tail lamps, and
small lighting products; and closure systems comprising door modules, power
closure systems, engineered glass products, window systems, running boards and
roof racks, latching systems, lighting systems, sealing systems, electronic
features, handle assemblies, composite components, and hinges and rods. In
addition, the company provides electronic systems, including driver assistance
systems, secure connectivity products, head-up displays, and electronic
controllers; exterior systems, such as fascia and trim products, front end
modules, liftgate and exterior modules, active aerodynamics, and lightweight
composites; and roof systems, including sliding folding and modular roofs,
retractable hard tops, and soft tops. Further, it offers vehicle engineering
and contract vehicle assembly services; fuel systems; engineering support
services; and tooling and other products. The company was founded in 1957 and
is headquartered in Aurora, Canada.
MGA is a Dividend Challenger with a 6 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 15.8, 17.0, 28.1 and 8.8. (Dividend Champions.xls) After the last dividend increase declaration, Magna International Inc. now pays dividends of $0.25 per share normally in March, June, September and December.
Details of my purchase:
Some ratings for MGA:
Yahoo: Mean Recommendation
2.2, 1y Target Est $54.50
Reuters:
Mean Rating 2.17
Morningstar:
(***)
At today's exchange rate, this purchase 50 shares of MGA
will increase €33.10 ($37.25) of my expected annual net dividend income and
will increase my portfolio's projected annual net dividend income to €9430.00. With
purchase price $38.33 plus commission ($5.00) my starting yield on cost is 2.60%.
Click here
to see my portfolio.
Full Disclosure: Long MGA
Excellent purchase :)
ReplyDeleteNice purchase, Hawk. its one of the most undervalued companies out there.
ReplyDeleteR2R
Sweet...Magna is definitely missed by alot of long-haul investors :)
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