Malaga Financial Corporation Announces Special Year End 2014 Cash Dividend and 14%+ Increase in First Quarter 2015 Dividend
December 05 2014 - 11:27AM
Business Wire
Malaga Financial Corporation (OTCBB: MLGF) announced today that
its Board of Directors had declared a special cash dividend in the
amount of 10 cents per share payable to shareholders of record at
the close of business on December 22, 2014. The dividend will be
paid on or about December 29, 2014. In addition, an increase in the
quarterly dividend to 20 cents was declared payable to shareholders
of record at the close of business on December 29, 2014 to be paid
on or about January 6, 2015. Randy C. Bowers, President and CEO,
remarked, “We are pleased to reward our loyal shareholders with a
special year end dividend in addition to an increase in the amount
of our 42nd consecutive quarterly dividend. This will result in
total dividends paid in 2014 of 80 cents per share for a 3.90%
annual yield based on a closing share price of $20.50 on December
3, 2014. We look forward to celebrating our 30th anniversary of
operations during the first quarter of 2015 and 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. Malaga
Bank has been rated as the #1 healthiest bank in America by
DepositAccounts.com, the largest and most comprehensive online
publication in the U.S. dedicated to banking/savings (deposits)
information for consumers. 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 BowersPresident and Chief
Executive Officer(310) 375-9000rbowers@malagabank.com
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