Magellan Aerospace Corp (MAL) Declares Dividend Increase – $0.07 Per Share

Magellan Aerospace Corp (TSE:MAL) declared a quarterly dividend on Monday, August 7th, Zacks reports. Investors of record on Friday, September 15th will be paid a dividend of 0.065 per share on Friday, September 29th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Thursday, September 14th. This is a boost from Magellan Aerospace Corp’s previous quarterly dividend of $0.06.

Shares of Magellan Aerospace Corp (TSE MAL) traded down 0.28% during trading on Friday, hitting $17.82. 16,343 shares of the company were exchanged. The firm’s 50-day moving average price is $18.69 and its 200 day moving average price is $19.75. The firm has a market capitalization of $1.04 billion and a PE ratio of 10.12. Magellan Aerospace Corp has a 12 month low of $15.80 and a 12 month high of $21.39.

Several equities research analysts recently commented on the company. Canaccord Genuity downgraded Magellan Aerospace Corp from a “buy” rating to a “hold” rating and dropped their target price for the company from C$23.00 to C$22.00 in a report on Wednesday, August 9th. TD Securities downgraded Magellan Aerospace Corp from a “buy” rating to a “hold” rating and set a C$24.00 target price on the stock. in a report on Wednesday, August 9th.

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Magellan Aerospace Corp Company Profile

Magellan Aerospace Corporation is a Canada-based supplier of components to the aerospace industry and in certain applications for power generation projects. The Company engineers and manufactures aeroengine and aerostructure components for aerospace markets, including products for defense and space markets, and complementary specialty products.

Dividend History for Magellan Aerospace Corp (TSE:MAL)

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