TFS Financial Corporation Declares Dividend
TFS Financial Corporation (NASDAQ: TFSL) has declared a quarterly cash dividend of $0.28 per share, payable on June 22, 2021, to stockholders of record as of June 8, 2021. The mutual holding company, which owns 80.9% of the Company’s common stock, has opted to waive its right to receive this dividend. This decision follows approval from its members and the Federal Reserve Bank of Cleveland.
As of March 31, 2021, TFS Financial's assets reached $14.5 billion.
- Declaration of a $0.28 dividend indicates financial stability.
- Assets of the company totaled $14.5 billion as of March 31, 2021.
- Waiver of dividend by the mutual holding company may indicate a lack of confidence in reinvesting returns.
- The company has not paid dividends to its majority stakeholder in recent quarters, including the previous $0.28 dividend.
TFS Financial Corporation (NASDAQ: TFSL) (the “Company”), the holding company for Third Federal Savings and Loan Association of Cleveland (the “Association”), today announced that the Board of Directors declared a quarterly cash dividend of
Chairman and CEO Marc A. Stefanski (Photo: Business Wire)
Third Federal Savings and Loan Association of Cleveland, MHC (the “MHC”), the mutual holding company of the Company and owner of 227,119,132 shares, or
On July 14, 2020, the MHC received the approval of its members (depositors and certain loan customers of the Association) with respect to the waiver of dividends, and subsequently received the non-objection of the Federal Reserve Bank of Cleveland, to waive receipt of dividends on the Company’s common stock the MHC owns up to
Third Federal is a leading provider of savings and mortgage products, and operates under the values of love, trust, respect, a commitment to excellence and fun. Founded in Cleveland in 1938 as a mutual association by Ben and Gerome Stefanski, Third Federal’s mission is to help people achieve the dream of home ownership and financial security. It became part of a public company in 2007. Third Federal, which lends in 25 states and the District of Columbia, is dedicated to serving consumers with competitive rates and outstanding service. Third Federal, an equal housing lender, has 21 full service branches in Northeast Ohio, seven lending offices in Central and Southern Ohio, and 16 full service branches throughout Florida. As of March 31, 2021, the Company’s assets totaled
This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, the Company’s plans regarding its dividends. These forward-looking statements involve risks and uncertainties that could cause the Company’s results to differ materially from management’s current expectations. The Company’s risks and uncertainties are detailed in its filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2020. Forward-looking statements are based on the beliefs and assumptions of our management and on currently available information. The Company undertakes no responsibility to publicly update or revise any forward-looking statement.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210527005877/en/
FAQ
What is the dividend amount for TFS Financial Corporation in 2021?
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