Security Federal Announces Cash Dividend Increase

Rhea-AI Summary

Security Federal Corporation has announced a quarterly dividend increase of $0.01, or 9%, raising it to $0.12 per share. This dividend payment is scheduled for March 15, 2022, for shareholders on record as of February 28, 2022. This marks the 125th consecutive quarterly dividend since its conversion in 1987, attributed to the bank's sustained profitability. The bank operates 17 branches across South Carolina and Georgia, providing a wide range of financial services.

Positive

• Quarterly dividend increased by $0.01, or 9%, to $0.12 per share.
• 125th consecutive quarterly dividend showcases company reliability.
• Indicates continued profitability and financial health.

Negative

• None.

AIKEN, S.C., Feb. 14, 2022 (GLOBE NEWSWIRE) -- Security Federal Corporation, parent company of Security Federal Bank, is pleased to announce the quarterly dividend will increase $0.01, or 9%, to $0.12 per share. The dividend will be paid on or about March 15, 2022, to shareholders of record as of February 28, 2022.  

This is the one hundred twenty-fifth 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 seventeen full service branch locations in Aiken, Ballentine, Clearwater, Columbia, Graniteville, Langley, Lexington, North Augusta, Ridge Spring, Wagener and West Columbia, South Carolina and Evans and Augusta, 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 dividend amount for SFDL shareholders?

The new dividend amount is $0.12 per share.

When will the dividend for SFDL be paid?

The dividend will be paid on or about March 15, 2022.

Who qualifies for the dividend payment for SFDL?

Shareholders of record as of February 28, 2022, will qualify for the dividend.

How long has SFDL been paying dividends?

Security Federal Corporation has paid dividends for 125 consecutive quarters.

What factors contributed to the dividend increase for SFDL?

The increase is attributed to the bank's continued profitability.