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. The company also provides residential mortgage loans, multi-family and commercial real estate mortgage loans, home equity loans and lines of credit, commercial business loans, and construction loans, as well as small business administration loans. In addition, it offers non-deposit investment products and financial planning services, including insurance products, fixed and variable annuities, and retirement planning for individual and commercial customers; and buys, sells, and holds investment securities. The company has seven branch offices located in New Brunswick, North Brunswick, South Brunswick, Branchburg, Bridgewater, and Edison, New Jersey. Magyar Bancorp, Inc. was founded in 1922 and is headquartered in New Brunswick, New Jersey.
Magyar Bancorp Dividend Announcement
• Magyar Bancorp announced a quarterly dividend of $0.05 per ordinary share which will be made payable on 2024-11-27. Ex dividend date: 2024-11-14
• Magyar Bancorp annual dividend for 2024 was $0.20
• Magyar Bancorp annual dividend for 2023 was $0.20
• Magyar Bancorp's trailing twelve-month (TTM) dividend yield is 2.13%
• Magyar Bancorp's payout ratio for the trailing twelve months (TTM) is 20.06%
Magyar Bancorp Dividend History
Ex-Div date | Dividend amount | Dividend type | Pay date |
---|---|---|---|
2024-11-14 | $0.05 | quarterly | 2024-11-27 |
2024-08-08 | $0.05 | quarterly | 2024-08-22 |
2024-05-06 | $0.05 | quarterly | 2024-05-21 |
2024-02-07 | $0.05 | quarterly | 2024-02-22 |
2023-11-27 | $0.07 | quarterly | 2023-12-12 |
2023-11-08 | $0.04 | quarterly | 2023-11-24 |
2023-08-02 | $0.03 | quarterly | 2023-08-17 |
2023-05-03 | $0.03 | quarterly | 2023-05-18 |
2023-02-08 | $0.03 | quarterly | 2023-02-23 |
2022-11-28 | $0.08 | quarterly | 2022-12-13 |
2022-11-09 | $0.03 | quarterly | 2022-11-23 |
2022-08-03 | $0.03 | quarterly | 2022-08-18 |
2022-05-04 | $0.03 | quarterly | 2022-05-19 |
2022-02-09 | $0.03 | quarterly | 2022-02-24 |
2021-11-29 | $0.12 | quarterly | 2021-12-14 |
Magyar Bancorp Dividend per year
Magyar Bancorp Dividend growth
Magyar Bancorp Dividend Yield
Magyar Bancorp current trailing twelve-month (TTM) dividend yield is 2.13%. Interested in purchasing Magyar Bancorp stock? Use our calculator to estimate your expected dividend yield:
Magyar Bancorp Financial Ratios
Magyar Bancorp Dividend FAQ
Other factors to consider when evaluating Magyar Bancorp as a dividend stock include its dividend yield, dividend growth, payout ratio, and the sustainability of its dividend payments given its earnings and cash flow. These factors can provide insight into the company's ability to maintain or increase its dividend in the future.
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1. Determination of Dividend: Magyar Bancorp's board of directors reviews the company's financial performance, cash flow, future investment needs, and other relevant factors to determine the amount and timing of dividend payments.
2. Dividend Declaration: Once the board approves a dividend, Magyar Bancorp publicly announces the dividend amount, currency, and the ex-dividend date. The ex-dividend date is the date on or after which the buyer of the stock will not be eligible to receive the upcoming dividend payment.
3. Record Date: The record date is the date on which the company checks its records to identify shareholders who are eligible to receive the dividend. Only shareholders on record as of this date will receive the dividend.
4. Payment Date: On the designated payment date, Magyar Bancorp distributes the dividend to eligible shareholders. The dividend is usually paid in the form of cash directly into the shareholder's brokerage account or through other designated payment methods.
5. Tax Implications: Dividends received from Magyar Bancorp are generally taxable as income. Shareholders may need to report dividend income on their tax returns and pay applicable taxes according to their jurisdiction's tax regulations.
1. Record Date: Magyar Bancorp sets a record date, which is the date on which the company checks its records to determine the eligible shareholders. Only those who are shareholders on record as of this date will receive the dividend.
2. Payment Date: On the designated payment date, Magyar Bancorp distributes the dividend to eligible shareholders. The payment is usually made electronically, directly into the shareholder's brokerage account or bank account.
3. Currency: Magyar Bancorp declares the currency in which the dividend will be paid. Depending on the shareholder's location and the currency election made by the shareholder, the dividend will be converted to the appropriate currency during the payment process.
To assess the safety of Magyar Bancorp's dividend, it is crucial to analyze the company's financial health, debt levels, cash flow generation, and ability to sustain dividend payments over the long term. Additionally, monitoring the company's future earnings, cash flow projections, and management's commitment to dividend policies can provide valuable insights.
It is recommended to review Magyar Bancorp's financial reports, official announcements, and consult with financial advisors or experts who have access to the most current and comprehensive information about the company's financial situation.