The Globe and Mail reports in its Saturday, May 11, edition that Magna International is ending its days of hoarding cash. The Globe's Greg Keenan writes that chief financial officer Vince Galifi says Magna would like to be cash neutral. The cash pile grew over 20 years after Frank Stronach banned debt after Magna nearly went broke from binging on borrowing in the late 1980s and early 1990s. It endured continued calls from institutional shareholders and analysts to pay higher dividends, buy back shares or make other effective use of the cash during those years, but Mr. Stronach insisted the cash hoard remain intact. The cash hoard grew to $2.8-billion before the recession hit in 2008. The strong cash-rich balance sheet enabled Magna to weather the 2008-09 auto crisis and bankruptcy protection filings in 2009 by two of its largest customers. Since Mr. Stronach's departure in 2011 Magna has steadily increased its dividend, bought back shares, restructured its board of directors and taken other shareholder-friendly actions. Mr. Galifi says the cash will be put to work on capital spending for growth opportunities, acquisitions, and more dividend increases and share repurchases.