Malaga Financial Corporation Announces 71st Consecutive Quarterly Cash Dividend

Rhea-AI Summary

Malaga Financial Corporation (OTCPink:MLGF) announced a cash dividend of 25 cents per share, payable on or about April 1, 2022, to shareholders of record on March 25, 2022. This dividend reflects a 4.00% annualized yield based on the recent closing price of $25.00. CEO Randy C. Bowers expressed satisfaction with the company’s strong operating results, which enabled the dividend declaration. Additionally, Malaga Bank, a subsidiary, maintains an A+ financial health rating and has received a 5-Star rating from Bauer Financial for over 14 years.

Positive

• Declared a quarterly cash dividend of 25 cents per share.
• Represents a strong 4.00% annualized yield.
• Malaga Bank awarded A+ financial health rating.
• Bauer Financial rated Malaga Bank 5-Star for 57 consecutive quarters.

Negative

• None.

PALOS VERDES ESTATES, Calif., March 11, 2022 (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, 2022. The dividend will be paid out on or about April 1, 2022. Randy C. Bowers, Chairman, President and CEO, remarked, “We are pleased that continued strong operating results have positioned us to declare this 25 cent quarterly dividend which represents a 4.00% annualized yield based on our most recent closing price of $25.00. We are grateful for the efforts of our colleagues and delighted 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 Bauer’s premier Top 5-Star rating for the 57th consecutive quarter as of December 2021. Since 1985, Malaga Bank 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 in 2022?

The dividend amount declared is 25 cents per share.

When will the MLGF dividend be paid?

The dividend will be paid on or about April 1, 2022.

What is the record date for the MLGF dividend?

The record date for the dividend is March 25, 2022.

What is the annualized yield of the MLGF dividend?

The annualized yield is 4.00% based on a closing price of $25.00.

What financial rating does Malaga Bank hold?

Malaga Bank holds an A+ financial health rating.