Malaga Financial Corporation Announces 75th 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 March 24, 2023. The payment is scheduled for on or about April 3, 2023, representing an annualized yield of 4.34% based on the recent closing price of $23.05. Chairman, President, and CEO Randy C. Bowers attributed this dividend declaration to strong operating results, expressing gratitude to employees and shareholders. Additionally, Malaga Bank, a subsidiary, has achieved an A+ financial health rating from DepositAccounts.com and continues to hold Bauer Financial's Top 5-Star rating for 61 consecutive quarters.

Positive

• Declared a cash dividend of 25 cents per share, reflecting strong operating results.
• Annualized yield of 4.34% based on a recent share price of $23.05.
• Malaga Bank holds an A+ financial health rating, indicating robust financial stability.
• Maintained a Top 5-Star rating from Bauer Financial for 61 consecutive quarters.

Negative

• None.

PALOS VERDES ESTATES, Calif., March 13, 2023 (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 24, 2023. The dividend will be paid out on or about April 3, 2023. 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 4.34% annualized yield based on our most recent closing price of $23.05. 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 61^st consecutive quarter as of December 2022 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 March 2023?

Malaga Financial Corporation declared a cash dividend of 25 cents per share in March 2023.

When will the dividend for MLGF be paid?

The dividend will be paid on or about April 3, 2023.

What is the annualized yield of MLGF's dividend?

The annualized yield is 4.34% based on the recent closing price of $23.05.

How has Malaga Bank been rated financially?

Malaga Bank has received an A+ financial health rating from DepositAccounts.com.

How long has Malaga Bank maintained its Top 5-Star rating?

Malaga Bank has held Bauer Financial's Top 5-Star rating for 61 consecutive quarters.