FSF Financial Corp. Announces Quarterly Dividend and Share Repurchase Plan

Strategic Insights -

FSF Financial Corp. has declared a regular quarterly dividend of 12.5 cents per share of common stock, to be paid on May 15, 2000, to stockholders of record on May 1, 2000. The dividend announcement comes after the company's Board of Directors reviewed preliminary operating results for the quarter ended March 31, 2000. Additionally, the company's Board has authorized the repurchase of up to 250,000 shares, approximately 10% of the outstanding shares of the Corporation's common stock, to be purchased in open market or privately negotiated transactions over the next twelve months.

Key Takeaways:

  • FSF Financial Corp. will pay a regular quarterly dividend of 12.5 cents per share to stockholders of record on May 1, 2000, payable on May 15, 2000.
  • The dividend announcement follows the company's Board of Directors reviewing preliminary operating results for the quarter ended March 31, 2000.
  • The company's Board has authorized the repurchase of up to 250,000 shares, approximately 10% of the outstanding shares of the Corporation's common stock.
  • The shares to be repurchased will be purchased in open market or privately negotiated transactions over the next twelve months.
  • First Federal fsb, a subsidiary of FSF Financial Corp., is a federally-chartered stock savings bank headquartered in Hutchinson, Minn., with eleven offices across the state.
  • The Bank's deposits are federally insured by the Federal Deposit Insurance Corporation (FDIC).
  • Insurance Planners of Hutchinson, Inc., another subsidiary, is a property and casualty insurance agency located in Hutchinson, Minn.
  • Homeowners Mortgage Corporation, a third subsidiary, originates residential mortgage loans from offices in Vadnais Heights and Hastings, Minn.
  • The Corporation's common stock is traded in the over-the-counter market on the Nasdaq National Market under the symbol "FFHH".

Statistics:

  • Dividend payout: 12.5 cents per share
  • Record date for dividend: May 1, 2000
  • Payable date for dividend: May 15, 2000
  • Maximum number of shares to be repurchased: 250,000 (approximately 10% of outstanding shares)
  • Repurchase timeframe: Up to twelve months
  • Number of First Federal fsb offices: Eleven

Sources:

  • FSF Financial Corp. press release, April 18, 2000