Magellan Aerospace Corp (TSE:MAL) declared a quarterly dividend on Monday, August 7th, Zacks reports. Investors of record on Friday, September 15th will be paid a dividend of 0.065 per share on Friday, September 29th. This represents a $0.26 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Thursday, September 14th. This is a positive change from Magellan Aerospace Corp’s previous quarterly dividend of $0.06.
Magellan Aerospace Corp (MAL) opened at 17.94 on Wednesday. The company has a 50-day moving average of $18.97 and a 200-day moving average of $19.77. The stock has a market cap of $1.04 billion and a P/E ratio of 10.19. Magellan Aerospace Corp has a 52 week low of $15.80 and a 52 week high of $21.39.
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Several research firms have recently commented on MAL. Canaccord Genuity cut Magellan Aerospace Corp from a “buy” rating to a “hold” rating and reduced their target price for the company from C$23.00 to C$22.00 in a research note on Wednesday, August 9th. TD Securities cut Magellan Aerospace Corp from a “buy” rating to a “hold” rating and set a C$24.00 target price for the company. in a research note on Wednesday, August 9th.
Magellan Aerospace Corp Company Profile
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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