Magna International Maintains FY20 Outlook; Hikes Dividend 10% - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Friday, automotive supplier Magna International Inc. (MG.TO, MGA) maintained its net income and sales outlook for the full-year 2020.

For fiscal 2020, the company continues to project net income attributable to company in a range of $1.8 billion to $2.0 billion, on total sales between $38.0 billion and $40.0 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.63 per share on sales of $39.33 billion for the year. Analysts' estimates typically exclude special items.

Additionally, the company's Board of Directors declared a 10 percent higher quarterly cash dividend of $0.40 on its outstanding Common Shares for the quarter ended December 31, 2019, payable on March 20, 2020 to shareholders of record on March 6, 2020.