Magyar Bancorp, Inc. (NASDAQ:MGYR) Announces Quarterly Dividend of $0.10

Magyar Bancorp, Inc. (NASDAQ:MGYR) declared a quarterly dividend on Thursday, January 29th. Shareholders of record on Thursday, February 12th will be given a dividend of 0.10 per share by the bank on Thursday, February 26th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, February 12th. This is a 25.0% increase from Magyar Bancorp’s previous quarterly dividend of $0.08.

Magyar Bancorp Stock Performance

Shares of MGYR traded down $0.28 during midday trading on Friday, hitting $17.61. 980 shares of the stock were exchanged, compared to its average volume of 1,376. Magyar Bancorp has a 52-week low of $13.52 and a 52-week high of $19.04. The stock has a fifty day simple moving average of $17.36 and a 200 day simple moving average of $17.16. The firm has a market cap of $115.14 million, a P/E ratio of 11.29 and a beta of 0.23.

Magyar Bancorp (NASDAQ:MGYR) last posted its earnings results on Thursday, January 29th. The bank reported $0.50 earnings per share (EPS) for the quarter. The firm had revenue of $9.65 million for the quarter. Magyar Bancorp had a return on equity of 8.47% and a net margin of 15.00%.

About Magyar Bancorp

Magyar Bancorp, Inc is a bank holding company headquartered in Palos Hills, Illinois, that provides a range of commercial banking services through its subsidiary, Magyar Bank. Established to serve the financial needs of individuals and businesses in the Chicago suburbs, the company offers traditional banking products alongside specialized lending solutions. Magyar Bancorp’s operations focus on relationship banking, emphasizing personalized service and community engagement.

The company’s product suite includes deposit accounts such as checking, savings and money market accounts, as well as certificates of deposit.