Magyar Bancorp, Inc. (NASDAQ:MGYR) Declares Dividend Increase – $0.06 Per Share

Magyar Bancorp, Inc. (NASDAQ:MGYR) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Stockholders of record on Thursday, February 6th will be paid a dividend of 0.06 per share by the bank on Thursday, February 20th. This represents a $0.24 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Thursday, February 6th. This is a boost from Magyar Bancorp’s previous quarterly dividend of $0.05.

Magyar Bancorp Price Performance

Shares of NASDAQ:MGYR opened at $14.30 on Friday. Magyar Bancorp has a 1 year low of $10.30 and a 1 year high of $14.74. The stock has a market capitalization of $93.95 million, a price-to-earnings ratio of 11.53 and a beta of 0.30. The company’s 50 day simple moving average is $14.20 and its 200 day simple moving average is $12.95.

Magyar Bancorp (NASDAQ:MGYR) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 earnings per share (EPS) for the quarter. Magyar Bancorp had a return on equity of 7.18% and a net margin of 14.91%.

Magyar Bancorp Company Profile

Magyar Bancorp, Inc operates as the holding company for Magyar Bank that provides various consumer and commercial banking services to individuals, businesses, and nonprofit organizations in New Jersey, the United States. It accepts various deposit accounts, including demand, savings, NOW, money market, and retirement accounts, as well as certificates of deposit.