Magellan Aerospace Co. (TSE:MAL) to Issue $0.03 Quarterly Dividend

Magellan Aerospace Co. (TSE:MAL - Get Free Report) announced a quarterly dividend on Wednesday, March 19th, TickerTech Dividends reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.025 per share on Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Wednesday, March 19th.

Magellan Aerospace Stock Down 0.5 %

TSE:MAL traded down C$0.06 on Friday, hitting C$12.24. 19,604 shares of the company's stock were exchanged, compared to its average volume of 10,850. The firm has a 50-day moving average price of C$10.01 and a 200-day moving average price of C$10.06. Magellan Aerospace has a 52 week low of C$7.77 and a 52 week high of C$12.50. 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 company has a market cap of C$677.17 million, a P/E ratio of 35.02, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Separately, TD Securities upped their price objective on Magellan Aerospace from C$18.00 to C$19.00 and gave the stock a "buy" rating in a research note on Monday.

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.

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