UPDATE: Magna Posts Increase In Q4 Profit, Lifts Dividend

Magna International

reported a 31% rise in its fourth-quarter profit and lifted its dividend. Magna's quarterly net income surged to $458 million, or $2.03 a share, versus $351 million, or $1.49 a share, in the year-ago period. Its revenue gained 14% to $9.17 billion. Magna shares closed at $89.12 on Friday.