Announces dividend.Magellan Aerospace Corp.'s board of directors has declared a quarterly cash dividend of 2.5 cents per share on the corporation's common shares, a decrease of 2.5 cents from the quarterly dividend paid in the third quarter of 2022. The continuing impact from the COVID-19 pandemic, low production levels largely related to wide-body aircraft, inflation, and supply chain and labour constraints continued to negatively impact the corporation's operation in the third quarter of 2022. In light of these operational challenges, the dividend level has been reduced but a dividend was still declared given the corporation's strong balance sheet and cash reserves. 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. The dividend is payable on Dec. 30, 2022, to stockholders of record at the close of business on Dec. 15, 2022.