Malaga Financial Corporation Announces 73rd 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 September 23, 2022, to be paid on or about October 3, 2022. This quarterly dividend translates to an annualized yield of 4.26% based on the recent closing price of $23.47. CEO Randy Bowers stated that solid earnings and strong capital position enable the company to reward shareholders effectively. Malaga Bank, a subsidiary, is ranked among the Top 200 Healthiest Banks in the U.S.

Positive

• Declaration of a 25 cents cash dividend reflecting a 4.26% annualized yield.
• Strong capital position supports ongoing shareholder rewards.
• Malaga Bank recognized as one of the Top 200 Healthiest Banks in the U.S.
• Awarded 5-Star rating for the 59th consecutive quarter by Bauer Financial.

Negative

• None.

PALOS VERDES ESTATES, Calif., Sept. 12, 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 September 23, 2022. The dividend will be paid out on or about October 3, 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 $23.47. 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 59^th consecutive quarter as of June 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 (MLGF)?

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

When will the cash dividend for MLGF be paid?

The cash dividend will be paid on or about October 3, 2022.

What is the record date for the MLGF dividend?

The record date for the dividend is September 23, 2022.

What is the annualized yield for the declared dividend of MLGF?

The declared dividend represents an annualized yield of 4.26% based on the recent closing price.

How is Malaga Bank rated in terms of health?

Malaga Bank is ranked among the Top 200 Healthiest Banks in the United States.