Skip to main content

The Globe and Mail

Martinrea CEO buys after dividend announcement

Auto parts maker Martinrea International plans to initiate quarterly dividend of 3 cents beginning this summer.

Charla Jones/The Globe and Mail

Martinrea International Inc. reported first-quarter adjusted earnings of 24 cents a share on May 2. Included in the report was the announcement that the company planned to initiate a quarterly dividend of 3 cents per share starting this summer. The new dividend policy helped to give the stock a boost. What caught our attention was the CEO adding to his position following the news. On May 8, CEO Nick Orlando bought 10,000 shares in the public market at $9.10. He now holds 230,000 shares.

Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.

Infographic reflects public-market transactions of common shares or unit trusts by company officers and directors.

Story continues below advertisement

Report an error
Comments

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

Please note that our commenting partner Civil Comments is closing down. As such we will be implementing a new commenting partner in the coming weeks. As of December 20th, 2017 we will be shutting down commenting on all article pages across our site while we do the maintenance and updates. We understand that commenting is important to our audience and hope to have a technical solution in place January 2018.

Discussion loading… ✨