Magyar Bancorp, Inc. announced that its Board of Directors has declared a special cash dividend of $0.04 per share. This special dividend is payable on December 20, 2024.
Shareholders of record as of December 6, 2024, will be eligible to receive this payment. The declaration of a special dividend reflects the company's strong financial position and its commitment to returning value to its shareholders.
This action follows the company's recent announcement of its fiscal year-end financial results, which showed an increase in net income and earnings per share. The special dividend provides an additional benefit to investors beyond the regular quarterly dividend.
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