Special Stock Dividend Declared by Malaga Financial Corporation
Introduction
Malaga Financial Corporation recently announced that its Board of Directors had declared a special 5% stock dividend on the company’s common stock outstanding. This special dividend is payable on or about December 31, 2024, to shareholders of record at the close of business on December 20, 2024. In addition to the stock dividend, a quarterly cash dividend of 25 cents was also declared, payable to shareholders of record at the close of business on December 20, 2024.
Statement from CEO
Randy C. Bowers, President and CEO of Malaga Financial Corporation, expressed his delight in declaring both a special year-end stock dividend and the 82nd consecutive quarterly dividend. He noted that this move would result in total cash dividends paid in 2024 of $1.00 per share, providing a 4.39% annual yield based on the closing share price on November 14, 2024. Bowers highlighted that this is the 13th consecutive year that a special year-end dividend has been declared alongside the quarterly cash dividend.
Impact
This announcement is significant for shareholders of Malaga Financial Corporation as it provides them with additional value in the form of a special stock dividend. It reflects the company’s commitment to rewarding its shareholders and maintaining a strong dividend track record.
Effect on Me
As a shareholder of Malaga Financial Corporation, this special stock dividend will increase the number of shares held, providing potential for greater returns in the future. The additional cash dividend further adds to the overall returns received from the investment.
Effect on the World
While the impact of Malaga Financial Corporation’s special dividend may not be felt on a global scale, it contributes to the broader financial market by showcasing the company’s stability and commitment to shareholder value. Additionally, strong dividend payouts can attract new investors and enhance the company’s reputation in the industry.
Conclusion
In conclusion, Malaga Financial Corporation’s declaration of a special stock dividend and quarterly cash dividend highlights its dedication to providing value to shareholders. This move reinforces the company’s financial strength and long-standing commitment to rewarding investors, making it an attractive investment opportunity in the market.
