WEST POINT, Ga., Nov. 29, 2011 /PRNewswire/ -- Charter Financial
Corporation (NASDAQ: CHFN) today announced that its board of
directors has declared a quarterly cash dividend of 5 cents per share. The dividend is payable on
December 29, 2011, to stockholders of
record December 13, 2011.
Historically Charter Financial Corporation's majority holder,
First Charter, MHC, has waived the receipt of most dividends
declared by Charter Financial Corporation pursuant to Office of
Thrift Supervision approval. First Charter, MHC obtained the
approval of the OTS to waive dividends through calendar year
2011. In July 2011, the Federal
Reserve Board succeeded the OTS as the primary federal regulator of
First Charter, MHC, and accordingly Federal Reserve Board approval
is required for First Charter, MHC to waive dividends in the
future. There can be no assurance that the Federal Reserve
Board will permit First Charter, MHC to waive dividends or will not
impose restrictions on dividend waivers that make such waivers
impracticable. In such event, Charter Financial 's dividend
policy could change.
Charter Financial Corporation is a savings and loan holding
company and the parent of CharterBank, a full-service community
bank and a federal savings institution. CharterBank is
headquartered in West Point,
Georgia, and operates branches in central West Georgia, East
Alabama and the Florida
panhandle. CharterBank's deposits are insured by the Federal
Deposit Insurance Corporation.
SOURCE Charter Financial Corporation