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Magna announces fourth quarter and 2018 results and raises quarterly cash dividend by 11%

Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the fourth quarter and year ended December 31, 2018

Fourth Quarter 2018 Highlights

  • Record fourth quarter sales of $10.1 billion up 5% from the fourth quarter of 2017
  • Cash from operations of $1.6 billion
  • Returned $585 million to shareholders through share repurchases and dividends
  • Raised quarterly cash dividend by 11% to $0.365 per share

Full Year 2018 Highlights

  • Record sales of $40.8 billion, up 12% from 2017
  • Record diluted earnings per share of $6.61, an increase of 13%
  • Record cash from operations of $3.7 billion
  • Returned approximately $2.3 billion to shareholders through share repurchases and dividends

Follow this link for full Q4 and 2018 results

SOURCE: Magna

 

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