Malaga Financial Corporation Announces 67th Consecutive Quarterly Cash Dividend

Rhea-AI Summary

Malaga Financial Corporation (OTCPink:MLGF) has declared a cash dividend of 25 cents per share for shareholders of record on March 25, 2021, to be paid around April 1, 2021. This dividend represents a 4.33% annualized yield based on the latest closing price of $23.11. Chairman and CEO Randy C. Bowers expressed confidence in the company's financial performance, highlighting solid earnings and strong capital levels. Malaga Bank has been rated among the Top 200 Healthiest Banks in the U.S., affirming its robust financial health.

Positive

• Declared a cash dividend of 25 cents per share, affirming shareholder returns.
• 4.33% annualized yield based on recent stock price.
• Rated among the Top 200 Healthiest Banks, indicating strong financial health.
• Consistent 5-star rating from Bauer Financial for 53 consecutive quarters.

Negative

• None.

PALOS VERDES ESTATES, Calif., March 12, 2021 (GLOBE NEWSWIRE) -- Malaga Financial Corporation (OTCPink:MLGF) announced today the declaration of a cash dividend in the amount of 25 cents per share to shareholders of record on March 25, 2021. The dividend will be paid out on or about April 1, 2021. Randy C. Bowers, Chairman, President and CEO, remarked, “We are pleased to announce the 25 cent quarterly dividend which represents a 4.33% annualized yield based on our most recent closing price of $23.11. Solid earnings and our strong capital level position us to continue to reward our shareholders for their investment.”

Malaga Bank, a subsidiary of Malaga Financial Corporation, is a full-service community bank headquartered on the Palos Verdes Peninsula with six offices located in the South Bay area of Los Angeles. Malaga Bank has been named by DepositAccounts.com as one of the Top 200 Healthiest Banks out of the 5,035 banks analyzed across the United States. A more detailed breakdown of Malaga Bank’s A+ health score may be found in the health section of its dedicated page at www.depositaccounts.com/banks/malaga-bank-fsb.html#health. For over ten years Malaga Bank has been consistently recommended by one of the nation’s leading independent bank rating and research firms, Bauer Financial Inc. Malaga Bank was awarded their premier Top 5-Star rating for the 53^rd consecutive quarter as of December 2020. Since 1985 Malaga has been delivering competitive banking services to residents and businesses of the South Bay, including real estate loan products custom-tailored to consumers and investors. As the largest community bank in the South Bay, Malaga is proud of its continuing tradition of relationship-based banking and legendary customer service. The Bank’s web site is located at www.malagabank.com.

Contact:       
Randy Bowers
Chairman, President and Chief Executive Officer
Malaga Financial Corporation
(310) 375-9000
rbowers@malagabank.com

FAQ

What is the dividend amount for MLGF announced in March 2021?

Malaga Financial Corporation announced a cash dividend of 25 cents per share.

When will the MLGF dividend be paid?

The dividend will be paid on or about April 1, 2021.

What is the annualized yield of the MLGF dividend?

The annualized yield is 4.33% based on the recent closing price.

What recognition has Malaga Bank received?

Malaga Bank has been named one of the Top 200 Healthiest Banks in the U.S.