Washington Federal Announces Increase in its Cash Dividend and Completion of its Board Succession Plan

Rhea-AI Summary

Washington Federal, Inc. (Nasdaq: WAFD) has declared a quarterly cash dividend of 24 cents per share, scheduled for payment on February 18, 2022, to shareholders of record as of February 4, 2022. This dividend marks the company's 156th consecutive quarterly cash dividend. In board changes following the recent Annual Meeting, Stephen Graham has been appointed as Chairman, with Brent Beardall becoming Vice-Chairman. As of December 31, 2021, Washington Federal reported $20.0 billion in assets and $2.1 billion in shareholders’ equity.

Positive

• Declared a quarterly cash dividend of 24 cents per share.
• 156th consecutive quarterly cash dividend demonstrates consistent shareholder return.
• Strong financial position with $20.0 billion in assets and $2.1 billion in shareholders' equity.

Negative

• None.

SEATTLE--(BUSINESS WIRE)-- Today, the Board of Directors of Washington Federal, Inc. (Nasdaq: WAFD) (the “Company”), parent company of Washington Federal Bank, National Association “WaFd Bank” announced a regular quarterly cash dividend of 24 cents per share. The dividend will be paid February 18, 2022 to common shareholders of record as of February 4, 2022. This will be Washington Federal’s 156^th consecutive quarterly cash dividend.

As previously announced on July 1, 2021, both Chairman Thomas Kelley and Director Barbara Smith retired following the Annual Meeting today and Director Stephen Graham has been appointed Chairman of the Board. The Company also announced that Brent Beardall, President and CEO of WaFd Bank, has been appointed Vice-Chairman of the Board.

Washington Federal, Inc. is the parent company of Washington Federal Bank, a national bank that operates branches in Washington, Oregon, Idaho, Utah, Nevada, Arizona, Texas and New Mexico. Established in 1917, the bank provides consumer and commercial deposit accounts, financing for small- to middle-market businesses, commercial real estate and residential real estate, including consumer mortgages, home equity lines of credit and insurance products through a subsidiary. As of December 31, 2021, the Company operated 219 branches and reported $20.0 billion in assets, $15.9 billion in deposits and $2.1 billion in shareholders’ equity.

Important Cautionary Statements

The foregoing information should be read in conjunction with the financial statements, notes and other information contained in the Company’s 2021 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

This press release contains statements about the Company’s future that are not statements of historical fact. These statements are “forward-looking statements” for purposes of applicable securities laws and are based on current information and/or management's good faith belief as to future events. The words “believe,” “expect,” “anticipate,” “project,” and similar expressions signify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance. By their nature, forward-looking statements involve inherent risk and uncertainties, which change over time; and actual performance could differ materially from those anticipated by any forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statement.

To find out more about WaFd Bank, please visit our website www.wafdbank.com. WaFd Bank uses its website to distribute financial and other material information about the Company.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220125005983/en/

Washington Federal, Inc.

425 Pike Street, Seattle, WA 98101

Brad Goode, SVP, Chief Marketing Officer

206-626-8178

Brad.Goode@wafd.com

Source: Washington Federal, Inc.

FAQ

What is the dividend amount for Washington Federal (WAFD)?

Washington Federal (WAFD) has declared a quarterly cash dividend of 24 cents per share.

When will the dividend be paid for WAFD?

The dividend will be paid on February 18, 2022, to shareholders of record as of February 4, 2022.

How many consecutive dividends has Washington Federal (WAFD) paid?

Washington Federal has paid 156 consecutive quarterly cash dividends.

What was the asset value of Washington Federal as of December 31, 2021?

As of December 31, 2021, Washington Federal reported $20.0 billion in assets.

Who are the new board members at Washington Federal (WAFD)?

Stephen Graham has been appointed Chairman of the Board, and Brent Beardall is now Vice-Chairman.