Market Overview

TFS Financial Corporation Declares Dividend

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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 $0.25 per share, payable on June 25, 2019, to
stockholders of record on June 11, 2019.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190530005799/en/

Third Federal Chairman and CEO, Marc A. Stefanski (Photo: Business Wire)

Third Federal 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 81.1% of the Company's common stock outstanding,
has waived its right to receive the dividend on its shares.

On July 11, 2018, 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 $1.00 per share during
the four quarters ending June 30, 2019. The MHC previously waived the
receipt of a $0.25 per share dividend paid by the Company on September
24, 2018, December 12, 2018, and March 19, 2019.

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, eight
lending offices in Central and Southern Ohio, and 16 full service
branches throughout Florida. As of March 31, 2019, the Company's assets
totaled $14.2 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, 2018. 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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