Magellan Aerospace Corporation (TSE: MAL) Response To COVID-19 And To Trade Ex-Dividend In 4 Days

Magellan Aerospace Corporation (TSE: MAL) shares have increased shareholders’ concerns as the price falls 37% to CA $6.97 in the week. MAL has opted to trade ex-dividend in the next four days. To receive dividend it is appropriate to buy shares before the 19th of March, which will be paid on the 31st of March.

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MAL stock traded up C$0.27 during the last trading session of Friday, reaching C$7.24. MAL had a trading volume of roughly of 79,900 as compared to its average volume of 25,722 shares. The stock has a market cap of C$ 421.43 million. Magellan Aerospace has a 50 day low moving average of C$6.97 and a high moving average of C$14.35. Magellan Aerospace has a 52-week low and high range of C$5.50 and C$19.00, respectively.

The company has allotted CA$0.42 dividend to shareholders last year and the company’s next dividend payment will be CA$0.10. The dividend is given to shareholders from the income of the company and if Magellan Aerospace continued to pay out more than it earned, its dividend is at risk of being cut. Dividends have a significant contribution to investment returns for long term holders, but only if the dividend continues to be paid.

All amounts are expressed in Canadian dollars unless otherwise indicated. The results are summarized as follows:

There are currently 1 hold rating and 1 buy rating for the stock of MAL, which results in an overall rating of ‘Buy’.

Magellan Aerospace acknowledged the seriousness of COVID-19 pandemic and the company is trying to spread awareness about coronavirus to mitigate the risk. AML is trying to prevent the spread of the virus through training of its employees and visitors, enhanced cleaning and disinfecting the workplace.

Magellan Space issued an announcement for colleagues, customers and suppliers on coronavirus. The company statement read: “We continue to contact the public health authorities, and government to ensure we are aware of and aligned with the guidance regarding COVID-19.”

President and CEOs Message on COVID-19:

COVID-19 has infected 150,054 people around the world and the death toll reached 5,617. The Aerospace and Defense Supplier Summit (A&DSS) has been delayed until September 2020. Magellan will be attending A&DSS summit at the Washington State Convention Center. AML is committed to providing a safe environment to its collogues and customers.

Magellan Aerospace Corporation, through its subsidiaries, designs, engineers, and manufactures aero engine, and aerostructure assemblies and components for aerospace markets in Canada, the US, Europe, and Asia. The company offers aero-engine products, including engine frames, compressor and fan cases, turbine cases, shafts, rotor spools, discs, gearbox housings Etc.