Magellan Aerospace Corp (MAL) Declares Quarterly Dividend of $0.07
Magellan Aerospace Corp (TSE:MAL) announced a quarterly dividend on Monday, August 7th, Zacks reports. Investors of record on Friday, September 15th will be given a dividend of 0.065 per share on Friday, September 29th. This represents a $0.26 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from Magellan Aerospace Corp’s previous quarterly dividend of $0.06.
Magellan Aerospace Corp (TSE:MAL) traded down 0.62% during midday trading on Friday, reaching $17.57. The company had a trading volume of 14,479 shares. The firm has a market capitalization of $1.02 billion and a PE ratio of 9.98. The firm’s 50-day moving average price is $19.04 and its 200 day moving average price is $19.74. Magellan Aerospace Corp has a 12 month low of $15.80 and a 12 month high of $21.39.
A number of brokerages have weighed in on MAL. Canaccord Genuity lowered Magellan Aerospace Corp from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$23.00 to C$22.00 in a research note on Wednesday, August 9th. TD Securities downgraded Magellan Aerospace Corp from a “buy” rating to a “hold” rating and set a C$24.00 target price on the stock. in a report on Wednesday, August 9th.
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About Magellan Aerospace Corp
Magellan Aerospace Corporation is a Canada-based supplier of components to the aerospace industry and in certain applications for power generation projects. The Company engineers and manufactures aeroengine and aerostructure components for aerospace markets, including products for defense and space markets, and complementary specialty products.
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