Malaga Financial Corporation Announces Special Year End 2022 Stock Dividend in Addition to First Quarter 2023 Cash Dividend

Rhea-AI Summary

Malaga Financial Corporation (OTCPink:MLGF) has declared a special 5% stock dividend, payable on or about December 30, 2022, to shareholders of record by December 16, 2022. In addition, a quarterly cash dividend of 25 cents will be paid on or about January 4, 2023. This marks the 11th consecutive year of special dividends along with the regular cash dividend, totaling $1.00 per share for a 4.29% annual yield. Malaga Bank, a subsidiary, has received an A+ financial rating by DepositAccounts.com.

Positive

• Declared a special 5% stock dividend, enhancing shareholder value.
• Continued commitment to dividends with $1.00 per share in total cash dividends for 2022.
• Malaga Bank maintains an A+ financial health rating.

Negative

• None.

PALOS VERDES ESTATES, Calif., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Malaga Financial Corporation (OTCPink:MLGF). Malaga Financial Corporation announced today that its Board of Directors had declared a special 5% stock dividend on the company’s common stock outstanding, payable on or about December 30, 2022 to shareholders of record at the close of business on December 16, 2022. The dividend will be issued in the form of additional shares of common stock. Cash will be issued in lieu of fractional shares. Additionally, a quarterly cash dividend of 25 cents was declared payable to shareholders of record at the close of business on December 16, 2022 to be paid on or about January 4, 2023. Randy C. Bowers, President and CEO, remarked, “We are pleased to declare a special year-end stock dividend in addition to our 74^th consecutive quarterly dividend. This will result in total cash dividends paid in 2022 of $1.00 per share for a 4.29% annual yield based on a closing share price of $23.30 on November 10, 2022 in addition to the special stock dividend. This is the 11^th consecutive year that we have declared a special year-end dividend along with the 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. 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 59th 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 of the Board, President and Chief Executive Officer
	Malaga Financial Corporation
	(310) 375-9000
	rbowers@malagabank.com

FAQ

What is the dividend amount for Malaga Financial Corporation in 2022?

Malaga Financial Corporation declared a total cash dividend of $1.00 per share for 2022.

When is the special stock dividend for MLGF payable?

The special stock dividend will be payable on or about December 30, 2022.

What is the record date for the dividends declared by Malaga Financial Corporation?

The record date for the dividends is December 16, 2022.

What is the amount of the quarterly cash dividend declared by MLGF?

The quarterly cash dividend declared is 25 cents per share.

How many consecutive years has MLGF declared a special year-end dividend?

This is the 11th consecutive year that MLGF has declared a special year-end dividend.