Magna earnings fall 65 percent; dividend cut


(In U.S. dollars) TORONTO, Feb 27 (Reuters) - Magna International reported a 65 percent drop in fourth-quarter profit on Tuesday and shaved its dividend as the auto parts maker struggled with a difficult automotive environment. Profit fell to $29 million, or 26 cents a share, from $83 million, or 75 cents a share, a year earlier. ($1=$1.16 Canadian)

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