Magellan Aerospace Corp (MAL) Plans $0.10 Quarterly Dividend

Magellan Aerospace Corp (TSE:MAL) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.10 per share on Friday, June 28th. This represents a $0.40 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, June 13th.

TSE:MAL traded down C$0.25 during trading hours on Friday, hitting C$17.10. 5,200 shares of the stock traded hands, compared to its average volume of 16,526. The company has a debt-to-equity ratio of 12.23, a current ratio of 2.55 and a quick ratio of 1.58. Magellan Aerospace has a 1 year low of C$13.20 and a 1 year high of C$19.25. The company has a market capitalization of $995.37 million and a P/E ratio of 10.82.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings results on Friday, May 10th. The company reported C$0.35 earnings per share for the quarter. The firm had revenue of C$269.88 million for the quarter. On average, sell-side analysts anticipate that Magellan Aerospace will post 1.52 earnings per share for the current fiscal year.

Separately, Canaccord Genuity downgraded shares of Magellan Aerospace from a “buy” rating to a “hold” rating and lowered their price target for the company from C$21.00 to C$20.00 in a report on Monday, May 13th.

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Magellan Aerospace Company Profile

Magellan Aerospace Corporation, through its subsidiaries, designs, engineers, and manufactures aero engine, and aero structure assemblies and components for aerospace markets in Canada, the United States, Europe, and Asia. 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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