Magellan Aerospace (TSE:MAL) Reaches New 12-Month High After Dividend Announcement

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s stock price reached a new 52-week high during trading on Monday after the company announced a dividend. The company traded as high as C$18.34 and last traded at C$18.34, with a volume of 9650 shares. The stock had previously closed at C$17.93.

The newly announced dividend which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 16th. This is a boost from Magellan Aerospace's previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a yield of 1.09%. Magellan Aerospace's dividend payout ratio (DPR) is 28.61%.

Wall Street Analysts Forecast Growth

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

Magellan Aerospace Trading Down 0.3%

The firm's fifty day moving average price is C$15.32 and its 200-day moving average price is C$12.14. The company has a market cap of C$1.02 billion, a price-to-earnings ratio of 52.65, a P/E/G ratio of -21.36 and a beta of 1.11. The company has a debt-to-equity ratio of 11.81, a current ratio of 2.58 and a quick ratio of 1.55.

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.