TFS Financial Corporation (NASDAQ: TFSL) has declared a quarterly cash dividend of $0.2825 per share, payable on December 17, 2024, to stockholders of record on December 3, 2024. 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. The MHC previously waived the receipt of dividends paid by the company in an aggregate amount of $0.2825 per share during the quarter ending September 30, 2024.
As of September 30, 2024, the company’s assets totaled $17.09 billion.
This announcement comes after the MHC received approval from its members to waive dividends and subsequently received non-objection from the Federal Reserve Bank of Cleveland, to waive receipt of dividends on the company’s common stock the MHC owns up to an aggregate amount of $1.13 per share during the twelve months subsequent to the members' approval (i.e., through July 9, 2025).
TFS Financial Corporation operates under the values of love, trust, respect, a commitment to excellence, and fun, and is dedicated to serving consumers with competitive rates and outstanding service. Founded in Cleveland in 1938, the company became part of a public entity in 2007 and celebrated its 85th anniversary in May 2023. Third Federal, which lends in 27 states and the District of Columbia, has 21 full-service branches in Northeast Ohio, two lending offices in central and southern Ohio, as well as 16 full-service branches throughout Florida. As a result of these announcements, the company's shares have moved -0.1% on the market, and are now trading at a price of $14.37. For the full picture, make sure to review TFS Financial's 8-K report.
