Magyar Bancorp, Inc. (NASDAQ:MGYR) Increases Dividend to $0.06 Per Share

Magyar Bancorp, Inc. (NASDAQ:MGYR) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Investors 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 annualized dividend and a yield of 1.68%. This is an increase from Magyar Bancorp’s previous quarterly dividend of $0.05.

Magyar Bancorp Stock Performance

MGYR traded up $0.13 during midday trading on Thursday, reaching $14.31. 459 shares of the company were exchanged, compared to its average volume of 1,663. The company has a market cap of $94.04 million, a price-to-earnings ratio of 11.54 and a beta of 0.30. Magyar Bancorp has a one year low of $10.30 and a one year high of $14.74. The company’s fifty day moving average price is $14.14 and its 200 day moving average price is $12.92.

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