Malaga Financial Corporation Announces 80th Consecutive Quarterly Cash Dividend

PALOS VERDES ESTATES, Calif., May 24, 2024 (GLOBE NEWSWIRE) -- 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 21, 2024. The dividend will be paid out on or about July 2, 2024. Randy C. Bowers, Chairman, President and CEO, remarked, “We are pleased to reward our loyal shareholders with this 25-cent quarterly dividend which represents a 4.43% annualized yield based on our most recent closing price of $22.56. We are grateful for the efforts of our colleagues which has positioned us to declare this 80^th consecutive 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 66^th consecutive quarter as of March 2024. Since 1985, Malaga Bank has been delivering competitive consecutive 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.