What is Magnas dividend policy?
Our Corporate Constitution provides that, unless otherwise approved by our shareholders, the holders of our shares will be entitled to receive and we will pay, if, as and when declared, dividends in respect of each financial year so that the aggregate of the dividends paid or payable in respect of such year is: (a) equal to at least 10% of our after-tax profits after providing for dividends on preference shares, if any, for such year; and (b) on average, equal to at least 20% of our after-tax profits after providing for dividends on preference shares, if any, for such financial year and the two immediately preceding financial years. For further details, please review Item 9. Corporate Constitution of our Annual Information Form (PDF 1.6 MB) dated March 29, 2005.
