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

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday after the company announced a dividend. The stock traded as high as C$11.05 and last traded at C$11.05, with a volume of 13400 shares traded. The stock had previously closed at C$10.88.

The newly announced dividend which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be issued a dividend of $0.025 per share. The ex-dividend date is Wednesday, March 19th. This represents a $0.10 annualized dividend and a yield of 0.82%. Magellan Aerospace's dividend payout ratio (DPR) is presently 28.61%.

Wall Street Analyst Weigh In

Separately, TD Securities raised their target price on shares of Magellan Aerospace from C$18.00 to C$19.00 and gave the company a "buy" rating in a research note on Monday, March 17th.

Magellan Aerospace Trading Down 0.5 %

The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81. The company has a market capitalization of C$677.17 million, a price-to-earnings ratio of 35.02, a P/E/G ratio of -21.36 and a beta of 1.11. The company has a 50-day moving average price of C$10.04 and a 200-day moving average price of C$10.09.

Magellan Aerospace Company Profile

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.