TFS Financial Corporation Declares Dividend
May 27 2021 - 4:15PM
Business Wire
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 $0.28 per share,
payable on June 22, 2021, to stockholders of record on June 8,
2021.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210527005877/en/
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 80.9% of the Company’s common stock
outstanding, has waived its right to receive the dividend on its
shares.
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 $1.12 per share during the four quarters ending June 30, 2021.
The MHC previously waived the receipt of a $0.28 per share dividend
paid by the Company on September 23, 2020, December 15, 2020, and
March 23, 2021.
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 $14.5 billion.
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.
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Jennifer Rosa (216) 429-5037
TFS Financial (NASDAQ:TFSL)
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