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Magna International Inc.

09:55 AM EST - Magna International Inc. : Reported financial results for the fourth quarter ended December 31, 2023. Sales increased 9% to $10.5 billion, compared to 7% increase in global light vehicle production. Sales increased 4% excluding foreign currency translation and acquisitions net of divestitures. Diluted earnings per share and Adjusted diluted earnings per share increased to $0.94 and $1.33, respectively, compared to $0.33 and $0.94 last year. Paid $133 million in dividends. Raised quarterly cash dividend to $0.475 per share. Magna International Inc. shares T.MG are trading down $0.06 at $73.52.