PALOS VERDES ESTATES, Calif.--(BUSINESS WIRE)--Malaga Financial Corporation (OTCPink:MLGF) announced today the declaration of a cash dividend in the amount of 25 cents per share to shareholders of record on June 15, 2018. The dividend will be paid out on or about July 2, 2018. Randy C. Bowers, President and CEO, remarked, “We are pleased to announce the 25 cent quarterly dividend which represents a 3.32% annualized yield based on our most recent closing price of $30.10. Increased earnings and our strong capital position allow us to continue to reward our shareholders for their investment.”
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 ten 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 their premier Top 5-Star rating for the 41st consecutive quarter as of December 2017. 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.