TORONTO — Magna International Inc. raised its dividend as it reported a fourth-quarter profit attributable to the company of US$203 million.

The auto parts company, which keeps its books in U.S. dollars, says it will now pay a quarterly dividend of 48.5 cents US per share, up from 47.5 cents US.

The increased payment came as Magna says its profit amounted to 71 cents US per diluted share for the quarter ended Dec. 31, down from US$271 million or 94 cents US per diluted share in the last three months of 2023.

Sales for the quarter totalled US$10.63 billion, up from $10.45 billion a year earlier.

On an adjusted basis, Magna says it earned US$1.69 per diluted share in its latest quarter, up from an adjusted profit of US$1.33 per diluted share a year earlier.

In its outlook for 2025, Magna says it expects total sales between US$38.6 billion and US$40.2 billion and adjusted net income attributable to Magna of US$1.3 billion to US$1.5 billion for the year.

This report by The Canadian Press was first published Feb. 14, 2025.

Companies in this story: (TSX:MG)

The Canadian Press