  It is shown that due to radiative corrections a photon having a non vanishing
component of its momentum perpendicular to it, bears a non-zero magnetic
moment. All modes of propagation of the polarization operator in one loop
approximation are discussed and in this field regime the dispersion equation
and the corresponding magnetic moment are derived. Near the first thresholds of
cyclotron resonance the photon magnetic moment has a peak larger than the
electron anomalous magnetic moment. Related to this magnetic moment, the
arising of some sort of photon "dynamical mass" and a gyromagnetic ratio are
discussed. These latter results might be interesting in an astrophysical
context.
