Magellan Aerospace Co. (TSE:MAL) Increases Dividend to $0.05 Per Share

Magellan Aerospace Co. (TSE:MAL - Get Free Report) announced a quarterly dividend on Monday, June 16th, TickerTech Dividends reports. Shareholders of record on Monday, June 30th will be given a dividend of 0.05 per share on Monday, June 30th. This represents a $0.20 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Monday, June 16th. This is a 100.0% increase from Magellan Aerospace's previous quarterly dividend of $0.03.

Magellan Aerospace Trading Up 1.6%

MAL traded up C$0.29 during mid-day trading on Friday, hitting C$17.98. The stock had a trading volume of 30,882 shares, compared to its average volume of 22,647. The stock's fifty day simple moving average is C$14.92 and its 200-day simple moving average is C$11.98. The company has a debt-to-equity ratio of 11.81, a current ratio of 2.58 and a quick ratio of 1.55. The firm has a market capitalization of C$994.74 million, a price-to-earnings ratio of 51.44, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11. Magellan Aerospace has a 1-year low of C$7.92 and a 1-year high of C$18.30.

Wall Street Analyst Weigh In

Separately, TD Securities increased their target price on shares of Magellan Aerospace from C$19.00 to C$20.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd.

About Magellan Aerospace

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.