PALOS VERDES ESTATES, Calif.--(BUSINESS WIRE)--Malaga Financial Corporation (OTCPink:MLGF) announced today the declaration of a cash dividend in the amount of 22.5 cents per share to shareholders of record on September 23, 2016. The dividend will be paid out on or about October 3, 2016. Randy C. Bowers, President and CEO, remarked, “We are pleased to announce a 22.5 cent quarterly dividend which represents a 3.89% annualized yield based on our most recent closing price of $23.15. Excellent asset quality and well-controlled expenses continue to produce strong earnings and we are delighted to reward our shareholders with our 49th consecutive quarterly cash dividend.”
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. For the third consecutive year, Malaga Bank has been named in the top 25 healthiest banks in America. A more detailed breakdown of Malaga Bank’s A+ health score may be found in the health section of its dedicated page at www.depositaccounts.com/banks/malaga-bank-fsb.html#health. 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.