Magellan Aerospace Corp (MAL) Increases Dividend to $0.10 Per Share

Magellan Aerospace Corp (TSE:MAL) declared a quarterly dividend on Thursday, December 13th, TickerTech reports. Shareholders of record on Monday, December 31st will be given a dividend of 0.10 per share on Monday, December 31st. This represents a $0.40 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Thursday, December 13th. This is a positive change from Magellan Aerospace’s previous quarterly dividend of $0.09.

Shares of Magellan Aerospace stock traded down C$0.61 during mid-day trading on Friday, hitting C$15.46. 21,800 shares of the stock were exchanged, compared to its average volume of 18,549. Magellan Aerospace has a 12 month low of C$15.02 and a 12 month high of C$21.90. The company has a debt-to-equity ratio of 9.33, a current ratio of 2.65 and a quick ratio of 1.49.

Magellan Aerospace (TSE:MAL) last posted its earnings results on Tuesday, November 6th. The company reported C$0.32 EPS for the quarter. The firm had revenue of C$226.52 million for the quarter. On average, analysts forecast that Magellan Aerospace will post 1.54000000597671 EPS for the current fiscal year.

A number of equities research analysts recently commented on MAL shares. Canaccord Genuity raised shares of Magellan Aerospace from a “hold” rating to a “buy” rating and lowered their price target for the stock from C$21.00 to C$20.00 in a report on Monday, August 13th. TD Securities lowered their price target on shares of Magellan Aerospace from C$24.00 to C$22.00 in a report on Thursday, November 8th.

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About Magellan Aerospace

Magellan Aerospace Corporation, through its subsidiaries, designs, engineers, and manufactures aero engine and aero structure components for aerospace markets in Canada, the United Sates, and Europe. The company offers aero engines products, including engine frames, compressor and fan cases, turbine cases, shafts, rotor spools, discs and blisks, and gearbox housings; and combustion liners and cases, exhaust frames and systems, engine bypass ducts and frames, acoustically treated exhaust systems, and fan cowl doors, as well as repair and overhaul services.

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Dividend History for Magellan Aerospace (TSE:MAL)

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