“In 2020, despite the severe decline in global vehicle production, Magna demonstrated the strength of its operating model. We took steps to conserve cash and reduce costs, while continuing to invest for the future. As vehicle production recovered in the second half of the year, we proved our ability to generate strong cash flow that, together with our balance sheet, position us to capitalize on future opportunities in mobility. Our dividend increase, the eleventh consecutive annual increase, reflects the ongoing confidence that management and our Board have in Magna’s future.” - Vince Galifi, Magna's Chief Financial Officer
“In 2020, despite the severe decline in global vehicle production, Magna demonstrated the strength of its operating model. We took steps to conserve cash and reduce costs, while continuing to invest for the future. As vehicle production recovered in the second half of the year, we proved our ability to generate strong cash flow that, together with our balance sheet, position us to capitalize on future opportunities in mobility. Our dividend increase, the eleventh consecutive annual increase, reflects the ongoing confidence that management and our Board have in Magna’s future.” - Vince Galifi, Magna's Chief Financial Officer