Magellan Aerospace Co. (TSE:MAL) to Issue Quarterly Dividend of $0.05

Magellan Aerospace Co. (TSE:MAL - Get Free Report) announced a quarterly dividend on Monday, June 16th, TickerTech Dividends reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.05 per share on Monday, June 30th. This represents a $0.20 annualized dividend and a dividend yield of 1.08%. 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 Stock Performance

TSE:MAL traded down C$0.45 during mid-day trading on Tuesday, reaching C$18.60. The stock had a trading volume of 31,981 shares, compared to its average volume of 22,986. The company has a debt-to-equity ratio of 11.81, a quick ratio of 1.55 and a current ratio of 2.58. The business has a 50 day simple moving average of C$15.07 and a 200 day simple moving average of C$12.05. Magellan Aerospace has a twelve month low of C$7.92 and a twelve month high of C$19.09. The firm has a market capitalization of C$1.03 billion, a price-to-earnings ratio of 53.22, a PEG ratio of -21.36 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Separately, TD Securities increased their price target on shares of Magellan Aerospace from C$19.00 to C$20.00 and gave the company 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.