The Globe and Mail reports in its Wednesday, Jan. 27, edition that Magna International is likely to boost its payout in February. The Globe's John Heinzl writes in the Yield Hog column that after speeding uphill for years, Magna's shares abruptly slammed on the brakes in mid-2015 and they have been sliding backward ever since. Magna's dividend, however, has been climbing steadily. Over the past four years, it has risen at an annual rate of about 15 per cent, and Mr. Heinzl says he is expecting another boost soon given that Magna usually announces an increase when it releases fourth quarter results in February. Magna executive vice-president and chief financial officer Vince Galifi said at a recent industry conference, "We want to have a dividend rate that we can grow and sustain over time." Keep in mind, says Mr. Heinzl, that Magna declares dividends in United States dollars, so an upturn in the loonie would reduce the dividend's value for Canadians. Also, the auto industry is cyclical, so earnings are typically more volatile than, say, a pipeline or utility. Bloomberg sees Magna's dividend rising about 16 per cent, to 25.5 U.S. cents from 22 U.S. cents.