Malaga Financial Corporation (OTCMKTS:MLGF) Stock In Fpcus Dividend News
This morning it is likely that the Malaga Financial Corporation (OTCMKTS:MLGF) stock is going to come into focus among investors after the company made a major new announcement yesterday. The company announced yesterday that its board of directors had provided the approval for a stock dividend of as much as 5% for its common outstanding stock.
Trading Data
On Monday, MLGF stock jumped 1.01% to $23.99 with more than 663 shares, compared to volume of 998 shares. The stock moved within a range of $23.80 – 23.99 after opening trade at $23.90.
Malaga Financial Corporation Announces Special Year End 2022 Stock Dividend in Addition to First Quarter 2023 Cash Dividend
The dividend is going to be paid out on December 30, 2022 to all shareholders of record as on December 16, 2022. It is not a cash dividend. The company is going to award the dividend in the form of more shares of the Malaga Financial Corporation common stock. However, cash is going to be issued for the fractional shares.
On the other hand, Malaga Financial Corporation also announced that it was also going to pay out a cash dividend to the tune of 25 cents per share to all shareholders of record as on December 16, 2022. The cash dividend would be paid out to the shareholders on January 4, 2022. The President and Chief Executive Officer of Malaga Financial Corporation Randy C Bowers noted that it was the 11th straight year in which the company had announced a special year end dividends.
Key Quote
Randy C. Bowers, President and CEO, remarked, “We are pleased to declare a special year-end stock dividend in addition to our 74th 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 11th consecutive year that we have declared a special year-end dividend along with the quarterly cash dividend.”
Technical Data
MLGF stock is trading above the 20-Day and 50-Day Moving averages of $23 and $23 respectively. However, the stock is trading below the 200-Day moving average of $24.50.
