Key Developments: Magna International Inc (MGA)
65.17USD
24 May 2013
$-0.61 (-0.93%)
$65.78
$65.18
$65.62
$64.76
906,905
743,649
$66.71
$36.54
Latest Key Developments (Source: Significant Developments)
Magna International Inc Declares Quarterly Dividend
Magna International Inc announced that the Board of Directors declared a quarterly dividend of $0.32 with respect to our outstanding Common Shares for the quarter ended March 31, 2013. This dividend is payable on June 17, 2013 to shareholders of record on May 31, 2013. Full Article
Magna International Inc Reaffirms FY 2013 Revenue Guidance-Conference Call
Magna International Inc announced that for fiscal 2013, it expects total sales to be in the range of $32 billion to $33.4 billion. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $32.4 billion for fiscal 2013. Full Article
Magna International Inc Declares Quarterly Dividend
Magna International Inc announced that the Board of Directors declared a quarterly dividend of $0.32 with respect to outstanding common shares for the quarter ended December 31, 2012. This dividend is payable on March 27, 2013 to shareholders of record on March 13, 2013. Full Article
Magna International Inc Issues FY 2013 Revenue Guidance In Line With Analysts' Estimates
Magna International Inc announced that it expects total sales in the range of $31.3 billion-$32.7 billion for fiscal 2013. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $31.7 billion for fiscal 2013. Full Article
Magna International Inc's Magna Powertrain Finalizes Ixetic Acquisition
Magna International Inc announced that its Magna Powertrain operating unit has completed the transaction to acquire ixetic Verwaltungs GmbH (ixetic), a manufacturer of automotive vacuum, engine and transmission pumps. The purchase price payable for 100% of the outstanding shares of ixetic, on a cash- and debt-free basis, was approximately E308 million. Full Article
Magna International Inc To Buy Back Up To 12 Million Shares-Canada Stockwatch News
Canada Stockwatch News reported that Magna International Inc. has received acceptance from the Toronto Stock Exchange for its notice of intention to make a normal course issuer bid. Pursuant to the notice, the Company may purchase up to 12 million Magna common shares, representing approximately 5.2% of the public float. As at November 7, 2012, the Company had 233,228,126 issued and outstanding common shares, including a public float of 232,113,173 common shares. During the previous 12 months, the corporation has purchased 3,668,430 common shares pursuant to a normal course issuer bid at a weighted average purchase price of $35.45 (U.S.) per common share. The primary purposes of the bid are purchases for cancellation, as well as purchases to finance stock-based compensation awards or programs, and/or obligations to deferred profit-sharing plans. The corporation may purchase its common shares, from time to time, if it believes that the market price of its common shares is attractive and that the purchase would be an appropriate use of corporate funds and in the best interests of the corporation. The bid will commence on November 13, 2012, and will terminate no later than November 12, 2013. Full Article
Magna International Inc Raises FY 2012 Revenue Guidance
Magna International Inc updated its fiscal 2012 sales guidance and expects sales to be in the range of 30.3- $31.2 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $29.70 billion for fiscal 2012. Full Article
Magna International Inc Declares Quarterly Dividend
Magna International Inc announced that Board of Directors declared a quarterly dividend of $0.275 with respect to our outstanding Common Shares for the quarter ended September 30, 2012. This dividend is payable on December 14, 2012 to shareholders of record on November 30, 2012. Full Article
Magna International Inc To Acquire ixetic Verwaltungs GmbH; Signs Agreement To Acquire Remaining 50% Interest In STT Technologies Inc.
Magna International Inc announced that it has signed an agreement to acquire ixetic Verwaltungs GmbH, a manufacturer of automotive vacuum, engine and transmission pumps with two manufacturing facilities in Germany, and one in each of Bulgaria and China. The purchase price payable for 100% of the outstanding shares of ixetic, on a cash-free and debt-free basis, is approximately EUR308 million, including the effect of the estimated closing adjustments. This transaction is expected to close in the fourth quarter of 2012. In a separate transaction, Magna, through one of wholly owned subsidiaries, has signed an agreement with joint venture partner to purchase the remaining 50% interest in STT Technologies Inc., a supplier of transmission and engine related oil pumps serving the North American automotive market. This transaction is expected to close in October, 2012. Full Article
Branham Law, LLP Investigating Magna International Inc to Improve Shareholder Returns
Branham Law, LLP announced that it is investigating certain officers and directors of Magna International, Inc. (Magna or the Company) for possible violations of shareholder protection laws in the issuance of materially false and misleading statements. Full Article
CANADA STOCKS-Magna and Bombardier drive TSX higher
* TSX rises 45.19 points, or 0.36 percent, to 12,589.09 * Eight of 10 main index sectors advance * Magna jumps after results * Chorus Aviation tumbles after dividend cut, results By Cameron French TORONTO, May 10 - Canada's main stock index pushed higher on Friday as strong energy issues and surging shares of manufacturers Magna International and Bombardier Inc helped extend the index's three-week run of gains. Auto parts maker Magna provided the index with i
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