Dividend Increase – Magna International Inc. (MGA)

On Thursday, February 23 the Board of Directors of Magna International Inc. announced a quarterly dividend increase of from $ 0.25 to $ 0.275 per share that’s payable March 24, 2017 to holders of record March 10, 2017. This represents a 10.0 % increase to regular quarterly dividends. With current price $ 43.05 (yesterday's close), this raise brings their dividend yield to 2.56 %.

Since I own 50 shares of MGA, this will increase my portfolio's projected annual net dividend income by $ 3.73.

That increase rises my YOC to 2.86 %.

Click here to see my portfolio holdings.

You can follow the development of my dividends here. 

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