Malaga Financial Corporation Announces 69th 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 by September 24, 2021. The dividend payment is anticipated on or around October 1, 2021, yielding an annualized rate of 4.02% based on the closing price of $24.87. Chairman, President, and CEO Randy C. Bowers noted the company's strong earnings and capital position as key factors enabling this shareholder reward. Additionally, Malaga Bank maintains an A+ financial health rating, showcasing its stability in the banking sector.

Positive

• Declared a cash dividend of 25 cents per share.
• Annualized yield of 4.02% based on recent closing price.
• Strong earnings and capital position support dividends.
• Malaga Bank awarded an A+ financial health rating.

Negative

• None.

PALOS VERDES ESTATES, Calif., Sept. 10, 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 September 24, 2021. The dividend will be paid out on or about October 1, 2021. Randy C. Bowers, Chairman, President and CEO, remarked, “We are pleased to announce the 25 cent quarterly dividend which represents a 4.02% annualized yield based on our most recent closing price of $24.87. 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 awarded an A+ financial health rating by DepositAccounts.com. 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 55^th consecutive quarter as of June 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 MLGF?

The dividend amount for Malaga Financial Corporation (MLGF) is 25 cents per share.

When will the dividend for MLGF be paid?

The dividend for MLGF is scheduled to be paid on or about October 1, 2021.

What is the dividend yield for MLGF?

The dividend yield for MLGF is 4.02% based on the recent closing price of $24.87.

What is the record date for the MLGF dividend?

The record date for the MLGF dividend is September 24, 2021.

How does Malaga Bank's financial health rating affect MLGF?

Malaga Bank's A+ financial health rating reflects its stability, positively impacting investor confidence in MLGF.