PALOS VERDES ESTATES, Calif.--(BUSINESS WIRE)--Malaga Financial Corporation (OTCBB: MLGF) announced today that its Board of Directors had declared a special cash dividend in the amount of 10 cents per share payable to shareholders of record at the close of business on December 17, 2012. The dividend will be paid on or about December 24, 2012. Randy C. Bowers, President and CEO, remarked, “We are pleased that our continued strong financial performance allows us to reward our loyal shareholders with this additional 10 cent dividend. This dividend results in total dividends paid in 2012 of 60 cents per share for a 3.58% annual yield based on a closing share price of $16.75 on November 26, 2012. We recently completed our 27th year of operations and look forward to continuing to serve and support the South Bay community.”
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.