Insider Selling: Magna International Inc. (MG) Director Sells 84,000 Shares of Stock
Magna International Inc. (TSE:MG) (NYSE:MGA) Director Tommy Joseph Skudutis sold 84,000 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of C$71.08, for a total value of C$5,970,720.00.
Shares of Magna International Inc. (TSE:MG) traded down C$1.05 during mid-day trading on Friday, reaching C$70.52. The company had a trading volume of 856,775 shares, compared to its average volume of 915,365. Magna International Inc. has a 12 month low of C$52.63 and a 12 month high of C$72.67.
The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were paid a $0.354 dividend. This represents a $1.42 annualized dividend and a yield of 2.01%. This is a boost from Magna International’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, November 22nd. Magna International’s dividend payout ratio is presently 14.97%.
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Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia, and South America. The company offers engineering and contract manufacturing services, and fuel systems; electric/electronic components and systems; roof systems comprising softtops, retractable hardtops, modular tops, and hardtops; and closures, including latching systems, hinges and wire forming, power closures, electronics, door modules, window systems engineered glass, sealing, trim and roof racks, roof systems, testing centers, and running boards.
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