Board of directors of Canada-based Magellan Aerospace Corporation (TSX: MAL) has declared a USD 0.105 per share quarterly cash dividend on its common shares, a 5% increase from the dividend paid in the third quarter of 2019, the company said.
This increase in the dividend rate is the sixth consecutive year of dividend increase since 2013, when the corporation paid its first dividend. The dividend is payable on December 31, 2019, to stockholders of record at the close of business on December 17, 2019.
Magellan Aerospace is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs, engineers, and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products.
