From Intrado, Inc.:

Magna International Inc reported financial results for the fourth quarter and year ended December 31, 2023. Sales increased 9% to $10.5 billion, compared to a 7% increase in global light vehicle production. Adjusted EBIT Margin is expected to expand by 180 basis points or more by 2026 to a 7.0-7.7% range. The company paid $133 million in dividends and raised quarterly cash dividend to $0.475 per share. A new Normal Course Issuer Bid was approved to purchase up to 0.3 million of Common Shares. This NCIB is expected to commence on February 15, 2024, and will terminate one year later.



Read more: Magna Announces Fourth Quarter 2023 Results and 2024