Malaga Financial Corporation Announces 80th Consecutive Quarterly Cash Dividend

Rhea-AI Summary

Malaga Financial (OTCPink:MLGF) declared its 80th consecutive quarterly cash dividend of 25 cents per share. Shareholders of record on June 21, 2024, will receive the dividend on or around July 2, 2024. This dividend represents a 4.43% annualized yield, based on the closing share price of $22.56. Randy C. Bowers, Chairman, President, and CEO, highlighted the company's commitment to shareholders and acknowledged the efforts of its employees. Malaga Bank, its subsidiary, has received Bauer Financial's Top 5-Star rating for 66 consecutive quarters and offers full-service community banking in the South Bay area of Los Angeles.

Positive

• Declared 80th consecutive quarterly cash dividend.
• 25 cents per share dividend represents a 4.43% annualized yield.
• Bauer Financial Top 5-Star rating for 66 consecutive quarters.
• Malaga Bank has a longstanding tradition of consistent, relationship-based banking.
• Continued recognition from a leading independent bank rating firm.

Negative

• Dividend yield is based on a specific closing price, which may not represent future valuations.
• No specific growth metrics or future outlook provided in the PR.
• The PR lacks detailed financial performance data for the latest quarter.

PALOS VERDES ESTATES, Calif., May 24, 2024 (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 21, 2024. The dividend will be paid out on or about July 2, 2024. Randy C. Bowers, Chairman, President and CEO, remarked, “We are pleased to reward our loyal shareholders with this 25-cent quarterly dividend which represents a 4.43% annualized yield based on our most recent closing price of $22.56. We are grateful for the efforts of our colleagues which has positioned us to declare this 80^th consecutive quarterly cash dividend.”

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. For over fifteen 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 66^th consecutive quarter as of March 2024. Since 1985, Malaga Bank has been delivering competitive consecutive 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 latest dividend announced by Malaga Financial (MLGF)?

Malaga Financial announced a 25 cents per share cash dividend.

When is the record date for Malaga Financial 's latest dividend?

The record date for the latest dividend is June 21, 2024.

When will Malaga Financial pay the recently declared dividend?

The dividend will be paid on or around July 2, 2024.

What is the annualized yield of the latest dividend from Malaga Financial ?

The annualized yield of the latest dividend is 4.43%.

How many consecutive quarters has Malaga Financial declared a cash dividend?

Malaga Financial has declared a cash dividend for 80 consecutive quarters.

What rating has Malaga Bank received from Bauer Financial?

Malaga Bank has received Bauer Financial's Top 5-Star rating for 66 consecutive quarters.