Business
CF Bankshares Inc., Parent Of CFBank, NA, Announces 33% Increase In Quarterly Cash Dividend And Expansion Of Stock Repurchase Plan
COLUMBUS, Ohio, Oct. 5, 2021 /PRNewswire/ -- CF Bankshares Inc. (NASDAQ: CFBK) (the "Company"), the parent of CFBank, NA, today announced that the Board of
About this update from Cf Bankshares Inc.
[{"type":"text","content":"COLUMBUS, Ohio, Oct. 5, 2021 /PRNewswire/ -- CF Bankshares Inc. (NASDAQ: CFBK) (the \"Company\"), the parent of CFBank, NA, today announced that the Board of Directors of the Company declared a quarterly cash dividend on its common stock of $0.04 per share, which represents a 33% increase over its previous quarterly dividend. The dividend is payable on November 2, 2021 to shareholders of record as of the close of business on October 22, 2021. \nAdditionally, the Company is increasing the maximum number of shares that can be repurchased under its previously announced stock repurchase program to 350,000 and extending the program through June 30, 2022.\nTimothy T. O'Dell, President and CEO, commented \"We are pleased to be able to reward our shareholders through increasing our Dividend. Additionally, we believe our stock is a good value. Repurchasing shares underscores our commitment to enhancing shareholder value and demonstrates confidence in our business model. We believe our approach to dividends and stock repurchases is well balanced with Capital retention to take advantage of our significant growth opportunities.\"\nAbout CF Bankshares Inc. and CFBank\nCF Bankshares Inc. (the Company) is a holding company that owns 100% of the stock of CFBank, National Association (CFBank). CFBank is a nationally chartered boutique Commercial Bank operating primarily in Four (4) Major Metro Markets: Columbus, Cleveland and Cincinnati, Ohio, and Indianapolis, Indiana. The current Leadership Team and Board recapitalized the Company and CFBank in 2012 during the financial crisis, repositioning CFBank as a full-service Commercial Bank model. Since the 2012 recapitalization, CFBank has achieved a CAGR of 25%.\nCFBank focuses on serving the financial needs of closely held businesses and entrepreneurs, by providing comprehensive Commercial, Retail and Mortgage Lending services presence. In all regional markets, CFBank provides commercial loans and equipment leases, commercial and residential real estate loans and treasury management depository services, residential mortgage lending, and full-service commercial and retail banking services and products. CFBank is differentiated by our penchant for individualized service coupled with direct customer access to decision makers, and ease of doing business. CFBank matches the sophistication of much larger ...