Magyar Bancorp, Inc. (MGYR) to Issue Quarterly Dividend of $0.06 on February 20th

Magyar Bancorp, Inc. (NASDAQ:MGYR) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Shareholders of record on Thursday, February 6th will be given 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 yield of 1.69%. The ex-dividend date is Thursday, February 6th. This is a positive change from Magyar Bancorp’s previous quarterly dividend of $0.05.

Magyar Bancorp Stock Performance

Shares of MGYR opened at $14.16 on Tuesday. The company has a 50-day simple moving average of $14.34 and a 200-day simple moving average of $13.07. The firm has a market capitalization of $93.03 million, a P/E ratio of 10.81 and a beta of 0.30. Magyar Bancorp has a 52 week low of $10.30 and a 52 week high of $14.74.

Magyar Bancorp (NASDAQ:MGYR) last posted its earnings results on Thursday, January 23rd. The bank reported $0.33 earnings per share for the quarter. Magyar Bancorp had a net margin of 15.25% and a return on equity of 7.53%.

About Magyar Bancorp

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.