Malaga Financial Corporation Announces 68th Consecutive Quarterly Cash Dividend

Rhea-AI Summary

Malaga Financial Corporation (OTCPink:MLGF) declared a cash dividend of 25 cents per share for shareholders of record on June 18, 2021, to be paid on or about July 1, 2021. This dividend represents a 4.10% annualized yield based on the last closing price of $24.40. CEO Randy C. Bowers highlighted the bank's solid earnings and strong capital position, noting their commitment to rewarding shareholders. Additionally, Malaga Bank was recognized as one of the Top 200 Healthiest Banks in the U.S. by DepositAccounts.com.

Positive

• Declared a 25 cent cash dividend, representing a 4.10% annualized yield.
• Solid earnings and strong capital position supporting shareholder rewards.
• Recognized as one of the Top 200 Healthiest Banks in the U.S.

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• None.

PALOS VERDES ESTATES, Calif., May 28, 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 June 18, 2021. The dividend will be paid out on or about July 1, 2021. Randy C. Bowers, Chairman, President and CEO, remarked, “We are pleased to announce the 25 cent quarterly dividend which represents a 4.10% annualized yield based on our most recent closing price of $24.40. 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 54^th consecutive quarter as of March 2021. 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 Malaga Financial Corporation (MLGF)?

Malaga Financial Corporation (MLGF) declared a cash dividend of 25 cents per share.

When will the dividend for MLGF be paid?

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

What is the annualized yield of the MLGF dividend?

The dividend represents a 4.10% annualized yield based on the most recent closing price.

What is the record date for the MLGF dividend?

The record date for the dividend is June 18, 2021.

Is Malaga Bank a healthy financial institution?

Yes, Malaga Bank was named one of the Top 200 Healthiest Banks in the U.S. by DepositAccounts.com.