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MW Bancorp reversing DTA valuation allowance, paying special dividend

The board of Cincinnati-based MW Bancorp Inc. disclosed a tax benefit of approximately $1.3 million from the reversal of the company's deferred tax assets valuation allowance.

The company expects to record the tax benefit in the third fiscal quarter ended March 31.

In addition, the board declared a special dividend of 50 cents per share, payable April 28 to shareholders on record as of April 14.