Home Federal Bancorp, Inc. of Louisiana Increases Quarterly Cash Dividend for 11th Consecutive Year

Rhea-AI Summary

Home Federal Bancorp, Inc. of Louisiana (NASDAQ: HFBL), the holding company for Home Federal Bank, has declared a quarterly cash dividend of $0.13 per share on its common stock. This marks the 11th consecutive year of dividend increases and the 77th consecutive quarterly cash dividend. The dividend is payable on August 19, 2024, to shareholders of record as of August 5, 2024.

Chairman, President, and CEO James R. Barlow emphasized the company's commitment to creating shareholder value and expressed confidence in its financial strength and long-term prospects. The increased dividend reflects a payout ratio of approximately 54% based on earnings for the quarter ended March 31, 2024. Home Federal Bank operates ten full-service banking offices in northwest Louisiana.

Positive

• Increased quarterly cash dividend to $0.13 per share
• 11th consecutive year of dividend increases
• 77th consecutive quarterly cash dividend
• 54% payout ratio based on Q1 2024 earnings
• Demonstrates confidence in financial strength and long-term prospects

Negative

• None.

SHREVEPORT, La., July 24, 2024 (GLOBE NEWSWIRE) -- Home Federal Bancorp, Inc. of Louisiana (the “Company”) (NASDAQ: HFBL), the holding company for Home Federal Bank, announced today that its Board of Directors at their meeting on July 24, 2024, declared a quarterly cash dividend of $0.13 per share on the Company’s common stock. The dividend is payable on August 19, 2024, to the shareholders of record at the close of business on August 5, 2024.

James R. Barlow, Chairman of the Board, President and Chief Executive Officer, stated, “This eleventh annual increase in our dividend rate, and 77^th consecutive quarterly cash dividend, reflects our continued commitment to creating value for our shareholders and confidence in the financial strength and long-term prospects for our Company. Based on our earnings for the quarter ended March 31, 2024, the increase reflects a payout ratio of approximately 54%.”

Home Federal Bancorp, Inc. of Louisiana is the holding company for Home Federal Bank which conducts business from its ten full-service banking offices and home office in northwest Louisiana. Additional information is available at www.hfb.bank.

Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like “believe,” “expect,” “anticipate,” “estimate” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could” or “may.” We undertake no obligation to update any forward-looking statements.

Contact:
Home Federal Bancorp, Inc. of Louisiana
James R. Barlow, Chairman of the Board, President and
Chief Executive Officer
(318) 222-1145

FAQ

What is the new quarterly dividend amount for Home Federal Bancorp, Inc. of Louisiana (HFBL)?

Home Federal Bancorp, Inc. of Louisiana (HFBL) has declared a new quarterly cash dividend of $0.13 per share on its common stock.

When will Home Federal Bancorp, Inc. of Louisiana (HFBL) pay its latest dividend?

The dividend is payable on August 19, 2024, to shareholders of record at the close of business on August 5, 2024.

How many consecutive years has Home Federal Bancorp, Inc. of Louisiana (HFBL) increased its dividend?

Home Federal Bancorp, Inc. of Louisiana (HFBL) has increased its dividend for 11 consecutive years.

What is the payout ratio for Home Federal Bancorp, Inc. of Louisiana's (HFBL) latest dividend?

Based on earnings for the quarter ended March 31, 2024, the increased dividend reflects a payout ratio of approximately 54%.