By Sabela Ojea
Magyar Bancorp declared a special cash dividend of 4 cents a share.
The parent company of the community lender Magyar Bank on Friday said its board of directors approved the special cash payout to shareholders.
Magyar Bancorp's payout is on top of its quarterly dividend of 5 cents a share, which will be paid Nov. 27.
The New Brunswick, N.J., company reported fourth-quarter net income of $2.5 million, or 41 cents a share, on Oct. 31.
The special dividend will be paid on Dec. 20.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
November 22, 2024 15:50 ET (20:50 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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