Magyar Bancorp, Inc. (NASDAQ:MGYR) Announces Quarterly Dividend of $0.06

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 dividend on an annualized basis and a dividend yield of 1.68%. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.05.

Magyar Bancorp Price Performance

Shares of MGYR traded up $0.13 during trading hours on Thursday, hitting $14.31. 459 shares of the stock were exchanged, compared to its average volume of 1,663. Magyar Bancorp has a fifty-two week low of $10.30 and a fifty-two week high of $14.74. The business has a 50-day moving average of $14.14 and a 200-day moving average of $12.92. The firm has a market capitalization of $94.04 million, a P/E ratio of 11.54 and a beta of 0.30.

Magyar Bancorp (NASDAQ:MGYR) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.33 earnings per share 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.