CF BANKSHARES INC., PARENT OF CFBANK, NA, ANNOUNCES QUARTERLY CASH DIVIDEND

Rhea-AI Summary

CF Bankshares Inc. (NASDAQ: CFBK), the parent company of CFBank, NA, announced a quarterly cash dividend. Shareholders of common stock will receive $0.06 per share, while Series D preferred stockholders will receive $6.00 per share. Each Series D preferred stock is convertible into 100 shares of common stock. The dividends are payable on July 19, 2024, to shareholders registered by July 11, 2024.

Positive

• Declaration of $0.06 per share quarterly cash dividend.
• Declaration of $6.00 per share quarterly cash dividend on Series D preferred stock.
• Dividends payable on July 19, 2024, indicating cash distribution to shareholders.

Negative

• None.

COLUMBUS, Ohio, July 1, 2024 /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 $0.06 per share quarterly cash dividend on its common stock and a corresponding $6.00 per share quarterly cash dividend on its Series D preferred stock. Each share of Series D preferred stock is convertible into 100 shares of common stock. The dividends are payable on July 19, 2024 to shareholders of record as of the close of business on July 11, 2024. 

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 in excess 20%.

CFBank focuses on serving the financial needs of closely held businesses and entrepreneurs, by providing a 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 was named one of Piper Sandler's "Bank & Thrift Sm-All Stars" for 2023. This recognition places us among the top 10% of small-cap banks and thrifts in the United States. In addition, 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, 2022.

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

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SOURCE CF BANKSHARES INC.

FAQ

What is the dividend amount declared by CF Bankshares (CFBK) for common stockholders?

CF Bankshares declared a $0.06 per share quarterly cash dividend for common stockholders.

How much dividend will Series D preferred stockholders receive from CF Bankshares (CFBK)?

Series D preferred stockholders will receive a $6.00 per share quarterly cash dividend.

When will CF Bankshares (CFBK) pay the announced dividends?

The dividends will be payable on July 19, 2024.

What is the record date for CF Bankshares (CFBK) dividend eligibility?

The record date for dividend eligibility is July 11, 2024.

How many shares of common stock does one share of Series D preferred stock convert into for CF Bankshares (CFBK)?

Each share of Series D preferred stock is convertible into 100 shares of common stock.