CF BANKSHARES INC., PARENT OF CFBANK, NA, ANNOUNCES 25% INCREASE IN ITS QUARTERLY CASH DIVIDEND.

Rhea-AI Summary

CF Bankshares Inc. (NASDAQ: CFBK) announced a quarterly cash dividend of $0.05 per share, marking a substantial 25% increase from the previous dividend. This dividend will be payable on July 26, 2022 to shareholders of record by the close of business on July 15, 2022. President and CEO Timothy T. O'Dell highlighted this increase as a sign of confidence in the company's business strength and a commitment to delivering attractive total returns to shareholders.

Positive

• Quarterly cash dividend increased by 25% to $0.05 per share.
• Dividend reflects ongoing confidence in business strength.
• Direct commitment to shareholder returns.

Negative

• None.

COLUMBUS, Ohio, July 5, 2022 /PRNewswire/ -- CF Bankshares Inc. (NASDAQ: CFBK) (the "Company"), the parent of CFBank, NA, today announced that the Board of Directors of the Company declared a quarterly cash dividend on its common stock of $0.05 per share, which represents a 25% increase over its previous quarterly dividend.  The dividend is payable on July 26, 2022 to shareholders of record as of the close of business on July 15, 2022. 

Timothy T. O'Dell, President and CEO, commented, "This dividend increase of 25%, coming at the nine-month mark since our previous dividend increase, reflects our continued confidence in the strength of our business, along with our Board's commitment to generating attractive total returns for our shareholders."

About CF Bankshares Inc. and CFBank

CF Bankshares Inc. (the Company) is a holding company that owns 100% of the stock of CFBank, National Association (CFBank). CFBank is a nationally chartered boutique Commercial bank operating primarily in Four (4) Major Metro Markets: Columbus, Cleveland, and Cincinnati, Ohio, and Indianapolis, Indiana. The current Leadership Team and Board recapitalized the Company and CFBank in 2012 during the financial crisis, repositioning CFBank as a full-service Commercial Bank model. Since the 2012 recapitalization, CFBank has achieved a CAGR of nearly 25%.

CFBank focuses on serving the financial needs of closely held businesses and entrepreneurs, by providing comprehensive Commercial, Retail, and Mortgage Lending services presence. In all regional markets, CFBank provides commercial loans and equipment leases, commercial and residential real estate loans and treasury management depository services, residential mortgage lending, and full-service commercial and retail banking services and products.  CFBank is differentiated by our penchant for individualized service coupled with direct customer access to decision-makers, and ease of doing business. CFBank matches the sophistication of much larger banks, without the bureaucracy.

CFBank ranked #7 on American Banker's listing of Top 200 Publicly Traded Community Banks based on 3-year average return on equity as of December 31, 2021 and has been recognized as a Small Cap All-Star performer by Piper Sandler in 2021, 2020, and 2019. CFBank is the only Ohio-based bank and one of only four banks in the country that have achieved this award for the past three consecutive years (2019, 2020 and 2021). In addition, CFBank was ranked #4 in Performance and #2 in Growth Strategy by Bank Director magazine based on 2020 performance and growth.

Additional information about the Company and CFBank is available at www.CF.Bank

View original content:https://www.prnewswire.com/news-releases/cf-bankshares-inc-parent-of-cfbank-na-announces-25-increase-in-its-quarterly-cash-dividend-301579839.html

SOURCE CF Bankshares Inc.

FAQ

What is the new dividend amount for CFBK?

The new quarterly cash dividend for CFBK is $0.05 per share.

When is the CFBK dividend payable?

The CFBK dividend is payable on July 26, 2022.

Who is eligible for the CFBK dividend?

Shareholders of record as of July 15, 2022, are eligible for the CFBK dividend.

What does the dividend increase signify for CFBK?

The dividend increase signifies the company's confidence in its business strength and commitment to shareholder returns.