By Kathryn HardisonMagellan Aerospace Corp.'s board of directors has lowered its quarterly cash dividend to five Canadian cents per share after the company's second quarter was impacted by headwinds such as inflation and labor shortages. The Canadian aerospace company said Friday that the dividend, three cents lower than the first-quarter dividend, will be payable on Sept. 29 to stockholders of record at the close of business on Sept. 15. Magellan Aerospace said the Covid-19 pandemic, low production levels, inflation and supply chain and labor shortages negatively impacted its second-quarter results. The company is expected to publish its second-quarter earnings on Wednesday, according to FactSet. Write to Kathryn Hardison at kathryn.hardison@wsj.com

Source: Wall Street Journal August 06, 2022 11:50 UTC