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Home  Random Extras Malaga Financial Corp. Shareholders Dividend Announcement
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Malaga Financial Corp. Shareholders Dividend Announcement |
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Written by Zamna Avila
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Wednesday, 23 December 2009 |
Malaga Financial Corp. recently announced it is giving 8 cents per share to its holders of record on Jan. 8, 2010 in cash dividends. The dividend, which would be paid out on or after Jan. 12, 2010, represents the 22nd consecutive quarterly cash dividend paid by the company.
While Malaga’s stocks are not widely, traded they are selling at about 20 percent the book value of $12.90 per share. With the year-end dividend, this brings the return on the value to about 2.5 percent, according Randy Bowers, president and CEO of Malaga Financial Corp.
The company’s subsidiary, Malaga Bank, is well capitalized and quality remains high. The bank is a full-service center headquartered on the Palos Verdes Peninsula with branch offices in Torrance and San Pedro.
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