Malaga Financial Corporation Announces 20% Increase in Quarterly Dividend
Malaga Financial Corporation (OTCBB:MLGF) announced today the declaration of a cash dividend in the amount of 15 cents per share to shareholders of record on January 3, 2013. The dividend will be paid out on or about January 10, 2013. Randy C. Bowers, President and CEO, remarked, “We are pleased to announce a dividend increase to be paid in January 2013 in addition to the special dividend of 10 cents which will be paid before 2012 year end. This is our 34th consecutive quarterly cash dividend in addition to the special dividend and is possible as a result of record earnings for the first nine months of the year and our strong capital position.”
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. It has been ranked the #1 performing thrift in the nation for three consecutive years by SNL Financial. 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.
Malaga Financial Corporation
President and Chief Executive Officer