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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 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.

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