Magellan Aerospace Corp T.MAL

Dividends

[Betteryear2]

For the year ended December 31, 2023 and 2022, the Corporation paid dividends on its common shares of $5.7 million and $15.0 million, respectively. Quarterly dividend payments were $0.025 per share in 2023 and ranged between $0.025 and $0.105 per common share in 2022.

Subsequent to December 31, 2023, the Corporation announced that its Board of Directors had declared a quarterly cash dividend on its common shares of $0.025 per common share. The dividend will be payable on March 28, 2024 to shareholders of record at the close of business on March 15, 2024. The Board of Directors of the Corporation continues to review its dividends on a quarterly basis for more visibility of recovery, and ensure that the dividend declared balances the return of capital to shareholders while maintaining adequate financial flexibility and investment in growth initiatives.