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Capitol Federal Financial, Inc.® Announces Fiscal Year 2019 Cash True-Up Dividend
TOPEKA, Kan.--(BUSINESS WIRE)-- Capitol Federal Financial, Inc. (NASDAQ: CFFN) (the "Company") announced today that its Board of Directors has declared a
About this update from Capitol Federal Financial, Inc.
[{"type":"text","content":" TOPEKA, Kan.--(BUSINESS WIRE)--\nCapitol Federal Financial, Inc. (NASDAQ: CFFN) (the \"Company\") announced today that its Board of Directors has declared a cash true-up dividend of $0.34 per share on outstanding CFFN common stock for fiscal year 2019. This dividend will bring cash dividends attributed to fiscal year 2019 earnings to $0.68 per share. The Company also paid a True Blue Capitol dividend of $0.25 in June 2019, bringing total cash dividends paid in calendar year 2019 to $0.93 per share.\n\n\nThe fiscal year 2019 cash true-up dividend is the result of the Board of Directors’ commitment to distribute to stockholders 100% of the earnings of the Company for fiscal year 2019. The amount of the dividend was determined by taking the difference between total earnings for fiscal year 2019 of $94.2 million and total regular quarterly cash dividends paid during fiscal year 2019 of $46.8 million. The $47.4 million difference equates to a dividend of $0.34 per share. The dividend is payable on December 6, 2019 to stockholders of record as of the close of business on November 22, 2019.\n\n\nFor fiscal year 2020, it is the intent of the Board of Directors and management to continue with the payout of 100% of the Company’s earnings to its stockholders. The payout is expected to be in the form of regular quarterly cash dividends of $0.085 per share, totaling $0.34 for the year, and a cash true-up dividend equal to fiscal year 2020 earnings in excess of the amount paid as regular quarterly cash dividends during fiscal year 2020. It is anticipated that the fiscal year 2020 cash true-up dividend will be paid in December 2020. Dividend payments depend upon a number of factors including the Company’s financial condition and results of operations, regulatory capital requirements, regulatory limitations on the ability of Capitol Federal Savings Bank (the \"Bank\") to make capital distributions to the Company, and the amount of cash at the holding company.\n\n\nCapitol Federal Financial, Inc. is the holding company for the Bank, which operates 54 branch offices in Kansas and Missouri. News and other information about the Company can be found on the Bank's website, http://www.capfed.com.\n\n\nExcept for the historical information contained in this press release, the matters discussed may be deemed to be \"forward-looking statements\" within ...