Malaga Financial Corporation (OTCMKTS:MLGF) Stock On Radar After Dividend News
Malaga Financial Corporation (OTCMKTS:MLGF) announced cash dividend of 25 cents per share to shareholders. The record date will be June 23, 2023, and the dividend is a 4.35% annualized yield based on its recent closing price of $23.00. It would be paid out by July 3, 2023.
Trading Data
On Friday, MLGF stock ended flat at $23.00 with more than 525 shares, compared to its average volume of 4.01K shares. The stock moved within a range of $23.00 – 23.00 after opening trade at $23.00.
Malaga Financial Corporation Announces 76th Consecutive Quarterly Cash Dividend
Randy C. Bowers, Chairman, President, and CEO said that despite the economic turmoil and condition of the banking industry, the company witnessed robust earnings and strength in its balance sheet. Bowers added that this enabled the company to declare a 25-cent quarterly dividend. The CEO lauded the efforts of colleagues and the opportunity to continue rewarding shareholders for their investment.
Malaga Bank is a subsidiary of Malaga Financial Corporation and a complete-service community bank. Headquartered on the Palos Verdes Peninsula, it has six offices located in the South Bay area of Los Angeles.
The Bank has been given an A+ financial health rating by DepositAccounts.com. It has been recommended by the nation’s leading independent research firm for over a decade. It was also awarded Bauer’s premier Top 5-Star rating for the 62nd consecutive quarter in March 2023.
The institution has been giving competitive banking services to businesses and residents of South Bay since 1985. Malaga is proud of its relationship-based banking and legendary customer service.
