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Washington Federal Announces 11% Increase in Its Cash Dividend and an Increase in Share Repurchase Authorization

Share:

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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