Malaga Financial Corporation Announces Special Year-End 2024 Stock Dividend in Addition to First Quarter 2025 Cash Dividend

Rhea-AI Summary

Malaga Financial (MLGF) has announced a special 5% stock dividend payable on December 31, 2024, to shareholders of record as of December 20, 2024. The company also declared its 82nd consecutive quarterly cash dividend of 25 cents, payable January 2, 2025. Total cash dividends for 2024 will amount to $1.00 per share, representing a 4.39% annual yield based on the November 14, 2024 closing price of $22.76. This marks the 13th consecutive year of special year-end dividends alongside quarterly cash dividends. Malaga Bank, the company's subsidiary, maintains Bauer Financial's Top 5-Star rating for the 67th consecutive quarter as of June 2024.

Positive

• Declared special 5% stock dividend
• 82nd consecutive quarterly cash dividend maintained
• Total cash dividends of $1.00 per share for 2024 (4.39% yield)
• 13-year track record of special year-end dividends
• 67 consecutive quarters with Bauer Financial's Top 5-Star rating

Negative

• None.

News Market Reaction – MLGF

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-0.04% News Effect

On the day this news was published, MLGF declined 0.04%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

PALOS VERDES ESTATES, Calif., Nov. 15, 2024 (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 31, 2024, to shareholders of record at the close of business on December 20, 2024. 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 20, 2024, to be paid on or about January 2, 2025. Randy C. Bowers, President and CEO, remarked, “We are pleased to declare a special year-end stock dividend in addition to our 82^nd consecutive quarterly dividend. This will result in total cash dividends paid in 2024 of $1.00 per share for a 4.39% annual yield based on a closing share price of $22.76 on November 14, 2024, in addition to the special stock dividend. This is the 13^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. 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 67^th consecutive quarter as of June 2024. 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 Malaga Financial's (MLGF) special stock dividend for 2024?

Malaga Financial announced a special 5% stock dividend payable on December 31, 2024, to shareholders of record as of December 20, 2024.

How much is MLGF's quarterly cash dividend for Q1 2025?

MLGF declared a quarterly cash dividend of 25 cents per share, payable on January 2, 2025, to shareholders of record as of December 20, 2024.

What is MLGF's total cash dividend yield for 2024?

MLGF's total cash dividends for 2024 amount to $1.00 per share, representing a 4.39% annual yield based on the November 14, 2024 closing price of $22.76.

How long has MLGF maintained its special year-end dividend?

MLGF has declared special year-end dividends for 13 consecutive years alongside its quarterly cash dividends.