Magna announces fourth quarter and 2019 results and raises quarterly cash dividend per share by 10%

Magna International Inc. today reported financial results for the fourth quarter and year ended December 31, 2019.

Fourth Quarter 2019 Highlights

• Cash from operations increased to $1.70 billion, despite lower sales and earnings

• Returned $365 million to shareholders through share repurchases and dividends

• Raised quarterly cash dividend by 10% to $0.40 per share

Full Year 2019 Highlights

• Record cash from operations of $3.96 billion, despite lower sales and earnings

• Returned approximately $1.7 billion to shareholders through share repurchases and dividends

SOURCE: Magna