Magellan Aerospace Announces Quarterly Dividend

TORONTO, Feb. 23, 2016 /CNW/ - Magellan Aerospace Corporation ("Magellan Aerospace") (TSX: MAL) announced today that its Board of Directors declared a quarterly cash dividend of $0.0575 (five and three-quarter cents) per share on the Corporation's common shares. The dividend is payable on March 31, 2016, to stockholders of record at the close of business on March 11, 2016.

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 Canada, the United States, the United Kingdom, India, and Poland.

SOURCE Magellan Aerospace Corporation

Elena Milantoni, Chief Financial Officer and Corporate Secretary, Magellan Aerospace Corporation, T: [phone], E: [email protected]