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

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