Malaga Financial Corporation Announces 72nd 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 June 17, 2022, to be paid on or about July 1, 2022. This dividend represents a 4.26% annualized yield based on a recent closing price of $23.50. Chairman and CEO Randy C. Bowers stated that solid earnings and strong capital levels enable the company to continue rewarding shareholders. Malaga Bank, a subsidiary, has been recognized as one of the Top 200 Healthiest Banks in the U.S., reinforcing its reliable banking services.

Positive

• Declared a 25 cent cash dividend, providing a 4.26% annualized yield.
• Strong earnings and capital levels support ongoing shareholder rewards.
• Malaga Bank is recognized as one of the Top 200 Healthiest Banks in the U.S.
• Received a 5-Star rating from Bauer Financial for 58 consecutive quarters.

Negative

• None.

PALOS VERDES ESTATES, Calif., May 27, 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 June 17, 2022. The dividend will be paid out on or about July 1, 2022. Randy C. Bowers, Chairman, President and CEO, remarked, “We are pleased to announce the 25 cent quarterly dividend which represents a 4.26% annualized yield based on our most recent closing price of $23.50. 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 58^th consecutive quarter as of March 2022. 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 declared by Malaga Financial Corporation?

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

When will the dividend be paid to shareholders for MLGF?

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

What is the annualized yield of the dividend for MLGF?

The dividend represents a 4.26% annualized yield based on a recent closing price of $23.50.

How is Malaga Bank rated in terms of health?

Malaga Bank has been named one of the Top 200 Healthiest Banks out of over 5,000 banks analyzed in the U.S.