Quaterly dividend MAGELLAN AEROSPACE ANNOUNCES QUARTERLY DIVIDEND
Magellan Aerospace Corp. has declared a quarterly cash dividend of 10.5 cents per share on the corporation's common shares. The dividend is payable on March 31, 2022, to stockholders of record at the close of business on March 29, 2022. Although the impacts of the covid-19 pandemic continued to impact the corporation in the fourth quarter of 2021, the corporation's liquidity and strong balance sheet has allowed the corporation to continue its quarterly dividend payment for the current quarter. The follow-on impacts of COVID-19 and the invasion of Ukraine are expected to impact world economic markets and particular areas of the aerospace industry. These and other relevant factors will be considered by the board of directors of the corporation, on a quarterly basis, when future dividends are reviewed to ensure that any dividends declared balance the return of capital to shareholders while maintaining adequate financial flexibility as the corporation recovers from these impacts and invests in growth initiatives.