PALOS VERDES ESTATES, Calif.--(BUSINESS WIRE)--Malaga Financial Corporation (OTCPink:MLGF) Malaga Financial Corporation announced today the declaration of a cash dividend in the amount of 22.5 cents per share to shareholders of record on March 25, 2016. The dividend will be paid out on or about April 1, 2016. Randy C. Bowers, President and CEO, remarked, “We are pleased to announce the 22.5 cent quarterly dividend which represents a 12.5% increase from the prior year’s quarterly dividend. This dividend represents a 4.04% annualized yield based on our most recent closing price of $ 22.30. In spite of the challenge of increased global economic uncertainty and heightened regulatory expectations, the continued execution of our business plan by our dedicated bankers has produced strong earnings and increased capital. We are delighted to continue to reward our shareholders for their support and loyalty.”
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 sixth consecutive year, Malaga Financial Corporation has been ranked among the top 3 SNL Financials Top 100 Public Thrift for 2014. 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.