Kentucky First Federal Bancorp Announces Payment of Quarterly Dividend

Rhea-AI Summary

Kentucky First Federal Bancorp (NASDAQ: KFFB) announced a cash dividend of $0.10 per share, payable on August 26, 2022, to shareholders of record by July 29, 2022. The Board of Directors affirmed this decision based on the Company’s capital position and financial condition. As of June 30, 2022, KFFB had approximately 8,154,695 shares outstanding, with 58.0% held by First Federal MHC. The Company operates multiple banking offices across Kentucky, focusing on maintaining solid financial performance despite potential risks identified in forward-looking statements.

Positive

• Declared a cash dividend of $0.10 per share, reflecting strong capital position.
• Approximately 58.0% of shares held by First Federal MHC, indicating stable ownership.

Negative

• Potential risks from interest rates and economic conditions could impact future performance.
• Regulatory changes may adversely affect the Company's operations.

HAZARD, Ky. and FRANKFORT, Ky. and DANVILLE, Ky. and LANCASTER, Ky., July 08, 2022 (GLOBE NEWSWIRE) -- Kentucky First Federal Bancorp (Nasdaq: KFFB) the holding company for First Federal Savings and Loan Association of Hazard, Kentucky and First Federal Savings Bank of Kentucky, Frankfort, Kentucky, announced that the Company’s Board of Directors declared a cash dividend of $0.10 per share payable on August 26, 2022, to shareholders of record on July 29, 2022. Tony Whitaker, Chairman of the Company, stated that the Board of Directors determined that the payment of the dividend was appropriate in light of the Company’s capital position and financial condition.

This press release may contain statements that are forward-looking, as that term is defined by the Private Securities Litigation Act of 1995 or the Securities and Exchange Commission in its rules, regulations and releases. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors including, but not limited to, real estate values, the impact of interest rates on financing, changes in general economic conditions, legislative and regulatory changes that adversely affect the business of the Company and the ability of First Federal MHC to waive dividends and changes in the securities markets. Accordingly, actual results may differ from those expressed in the forward-looking statements, and the making of such statements should not be regarded as a representation by the Company or any other person that results expressed therein will be achieved.

Kentucky First Federal Bancorp is the parent company of First Federal Savings and Loan Association, which operates one banking office in Hazard, Kentucky and First Federal Savings Bank of Kentucky, which operates six banking offices in Kentucky, including three in Frankfort, two in Danville, and one in Lancaster. Kentucky First Federal Bancorp shares are traded on the NASDAQ National Market under the symbol KFFB. At June 30, 2022, the Company had approximately 8,154,695 shares outstanding of which approximately 58.0% was held by First Federal MHC.

Contact:                  
Kentucky First Federal Bancorp
Don Jennings, President                        
Clay Hulette, Vice President                
(502) 223-1638

FAQ

What is the dividend amount for KFFB?

Kentucky First Federal Bancorp declared a dividend of $0.10 per share.

When is the KFFB dividend payable?

The dividend is payable on August 26, 2022.

What is the record date for the KFFB dividend?

The record date for the dividend is July 29, 2022.

How many shares does KFFB have outstanding?

As of June 30, 2022, KFFB had approximately 8,154,695 shares outstanding.

What percentage of KFFB shares are held by First Federal MHC?

Approximately 58.0% of KFFB's shares are held by First Federal MHC.