Washington Federal Announces 13% Increase in Its Cash Dividend and an Increase in Share Repurchase Authorization
January 24 2018 - 5:12PM
Business Wire
Today, the Board of Directors of Washington Federal, Inc.
(NASDAQ:WAFD) announced a regular quarterly cash dividend of 17
cents per share, a 2 cent increase from the prior quarter. The
dividend will be paid on February 23, 2018, to common stockholders
of record as of February 9, 2018. This will be Washington Federal’s
140th consecutive quarterly cash dividend.
The Board also increased the number of shares authorized for
repurchase by 5 million, bringing the currently authorized amount
up to 5.3 million shares. Over the last three fiscal years, the
Company has repurchased 13.1 million shares at a weighted average
price of $24.41. This represents 13.4% of the shares outstanding on
October 1, 2014.
President and Chief Executive Officer, Brent J. Beardall
commented, “The Board’s actions today reflect its confidence in
Washington Federal’s future.”
Washington Federal, Inc. is the parent company of Washington
Federal, a national bank that operates 237 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, 2017, the Company
reported $15.6 billion in assets, $11.0 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 2017 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180124006290/en/
Washington Federal, Inc.Brad Goode,
206-626-8178Brad.Goode@wafd.com
WaFd (NASDAQ:WAFD)
Historical Stock Chart
From Jun 2024 to Jul 2024
WaFd (NASDAQ:WAFD)
Historical Stock Chart
From Jul 2023 to Jul 2024