Malaga Financial Corporation Announces 39th Consecutive Quarterly Cash Dividend
15 March 2014 - 5:19AM
Business Wire
Malaga Financial Corporation (OTCBB:MLGF) Malaga
Financial Corporation announced today the declaration of a cash
dividend in the amount of 17.5 cents per share to shareholders of
record on March 28, 2014. The dividend will be paid out on or about
April 4, 2014. Randy C. Bowers, President and CEO, remarked, “Our
earnings continue to be strong and stable, and asset quality
remains high. As a result we are able to reward our shareholders
with a 17.5 cent quarterly dividend, which represents a 3.59%
annualized yield based on our closing price yesterday of $ 19.50.
In addition, today we are celebrating the 29th anniversary of the
opening of Malaga Bank on March 14, 1985. We look forward to
continuing to serve and support the South Bay community.”
Malaga Bank, a subsidiary of MFC, is a full-service community
bank headquartered on the Palos Verdes Peninsula with six offices
located in the South Bay area of Los Angeles. It has been ranked
among the top 200 Community Banks in the United States as published
in the May 2013 issue of American Banker magazine. The
rankings were based on average return on equity for the 3 year
period ending December 31, 2012. Malaga was the top ranked
institution located in California and was ranked #9 among the top
200 in the nation. 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.
Malaga Financial CorporationRandy Bowers, 310-375-9000President
and Chief Executive Officerrbowers@malagabank.com
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