Security Federal Announces Cash Dividend Increase

Rhea-AI Summary

Security Federal announced an increase in its quarterly dividend to $0.14 per share, payable on or about June 15, 2024, to shareholders of record as of May 31, 2024. This marks the 134th consecutive quarterly dividend since the bank's conversion from mutual to stock ownership in 1987. The increase is attributed to the bank's continued profitability. Security Federal Bank operates nineteen full-service branches across South Carolina and Georgia, providing a comprehensive range of financial services. The company's common stock is traded on the Over-the-Counter Bulletin Board under the symbol SFDL.

Positive

• Quarterly dividend increase to $0.14 per share.
• 134th consecutive quarterly dividend since 1987.
• Continued profitability cited as reason for dividend increase.
• Nineteen full-service branch locations in South Carolina and Georgia.
• Wide range of financial services, including trust and investments.
• Insurance services provided by wholly-owned subsidiary, Security Federal Insurance.

Negative

• Security Federal common stock is traded on the Over-the-Counter Bulletin Board (OTCBB), which may indicate lower liquidity and visibility compared to major exchanges.

AIKEN, S.C., May 23, 2024 (GLOBE NEWSWIRE) -- Security Federal Corporation, parent company of Security Federal Bank, is pleased to announce that a quarterly dividend of $0.14 per share will be paid on or about June 15, 2024, to shareholders of record as of May 31, 2024.

This is the one hundred thirty-fourth consecutive quarterly dividend to shareholders since the Bank’s conversion in October of 1987 from a mutual to a stock form of ownership. The dividend was declared as a result of the Bank’s continued profitability.

Security Federal Bank has nineteen full service branch locations in Aiken, Ballentine, Clearwater, Columbia, Graniteville, Langley, Lexington, North Augusta, Ridge Spring, Wagener and West Columbia, South Carolina and Augusta and Evans, Georgia. A full range of financial services, including trust and investments, are provided by the Bank, and insurance services are provided by the Bank’s wholly owned subsidiary, Security Federal Insurance, Inc.

Security Federal Corporation common stock is traded on the Over-the-Counter Bulletin Board under the symbol SFDL.

FAQ

What is the new quarterly dividend declared by Security Federal ?

The new quarterly dividend declared by Security Federal is $0.14 per share.

When will the new dividend be paid?

The new dividend will be paid on or about June 15, 2024.

What is the record date for the Security Federal dividend?

The record date for the Security Federal dividend is May 31, 2024.

How many consecutive quarterly dividends has Security Federal declared?

Security Federal has declared 134 consecutive quarterly dividends.

What is the stock symbol for Security Federal ?

The stock symbol for Security Federal is SFDL.