Washington Federal Announces 11% Increase in Its Cash Dividend and an Increase in Share Repurchase Authorization
January 16 2019 - 5:15PM
Business Wire
Today, the Board of Directors of Washington Federal, Inc.
(NASDAQ:WAFD) announced a regular quarterly cash dividend of 20
cents per share, a 2-cent increase from the prior quarter. The
dividend will be paid on February 22nd, 2019 to common stockholders
of record as of February 8th, 2019. This will be Washington
Federal’s 144th consecutive quarterly cash dividend. After this
increase the cash dividend yield is now 2.9%, based on the current
stock price.
The Board also increased the number of shares authorized for
repurchase by 10 million, bringing the currently authorized amount
up to 10.3 million shares. Over the last four fiscal years the
Company has repurchased 17.7 million shares at a weighted average
price of $26.9, this represents 18% of the shares outstanding on
October 1, 2014.
President and Chief Executive Officer Brent J. Beardall
commented, “The Board’s actions today express its confidence in
Washington Federal’s future.”
Washington Federal, Inc. is the parent company of Washington
Federal, a national bank that operates 235 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, 2018, the Company
reported $16.2 billion in assets, $11.6 billion in deposits and
$2.0 billion in stockholders’ 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 2018 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190116005819/en/
Washington Federal, Inc.425 Pike Street, Seattle, WA 98101Brad
Goode 206-626-8178Brad.Goode@wafd.com
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