TORONTO--(BUSINESS WIRE)--Magellan Aerospace Corporation ("Magellan Aerospace") (TSX: MAL) announced today that its Board of Directors declared a quarterly cash dividend of $0.105 (ten and one-half cents) per share on the Corporation’s common shares, a 5 percent increase in the rate of the Corporation’s quarterly dividend from the dividend paid in the third quarter of 2019. 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.
About Magellan Aerospace
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. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe and India.