FFW Corporation Announces Quarterly Cash Dividend

Rhea-AI Summary

FFW (OTC PINK: FFWC), parent of Crossroads Bank, announced a quarterly cash dividend of $0.29 per share, payable on June 28, 2024, to shareholders of record as of June 14, 2024. The book value per share was $41.72 as of April 30, 2024, while the closing stock price was $34.54 on May 23, 2024, with 1,126,243 shares outstanding. As of April 30, 2024, FFW reported assets of $554.9 million and shareholders' equity of $47.0 million. The Board will continue to evaluate quarterly dividends. Crossroads Bank operates multiple banking centers and offers various financial services in Indiana.

Positive

• Quarterly cash dividend of $0.29 per share announced.
• Book value per share is $41.72 as of April 30, 2024.
• Assets totaled $554.9 million as of April 30, 2024.
• Shareholders' equity reported at $47.0 million.
• 1,126,243 shares outstanding, providing liquidity.

Negative

• Stock price at $34.54 is lower than the book value per share ($41.72).
• No significant growth indicators mentioned.
• Ongoing dividend evaluation may lead to potential changes in dividend policy, creating uncertainty.

WABASH, Ind., May 24, 2024 (GLOBE NEWSWIRE) -- FFW Corporation (OTC PINK: FFWC) (5/23/24 Close: $34.54), parent corporation of Crossroads Bank, has approved a quarterly cash dividend of $0.29 per share of common stock. The dividend is payable June 28, 2024, to shareholders of record on June 14, 2024.

The book value of FFW Corporation stock was $41.72 per share as of April 30, 2024. The last reported trade of stock at the close of business on May 23, 2024, was $34.54 per share and the number of outstanding shares was 1,126,243 as of the same date. On April 30, 2024, the corporation had assets of $554.9 million and shareholders' equity of $47.0 million. The Board of FFW Corporation and Crossroads Bank will continue to evaluate the payment of a dividend on a quarterly basis.

Crossroads Bank is a wholly owned subsidiary of FFW Corporation, providing an extensive array of banking services and a wide range of investments and securities products through its main office in Wabash and six Indiana banking centers located in Columbia City, North Manchester, Peru, South Whitley, Syracuse, and Warsaw. The Bank also provides leasing services at each of its banking centers. Insurance products are offered through an affiliated company, Insurance 1 Services, Inc. The Corporation’s stock is traded on the OTC Markets under the symbol “FFWC.” Our website address is www.crossroadsbanking.com. Crossroads Bank, Member FDIC.

FOR MORE INFORMATION
Kirsten Pendarvis
Treasurer
(260) 563-3185

SOURCE: FFW Corporation

FAQ

What is the cash dividend announced by FFW ?

FFW announced a quarterly cash dividend of $0.29 per share.

When is FFW ’s dividend payable?

The dividend is payable on June 28, 2024.

What is the record date for FFW ’s dividend?

The record date for the dividend is June 14, 2024.

What was FFW ’s stock price on May 23, 2024?

The stock price was $34.54 on May 23, 2024.

How many shares of FFW are outstanding?

There are 1,126,243 shares outstanding.

What are FFW ’s assets as of April 30, 2024?

FFW had assets totaling $554.9 million as of April 30, 2024.

What is the book value per share of FFW ?

The book value per share is $41.72 as of April 30, 2024.

What services does Crossroads Bank offer?

Crossroads Bank offers a range of banking services, investments, securities products, leasing services, and insurance products.