TFS Financial Corporation Declares Dividend and Announces Leadership Changes

About this update from Tfs Financial Corporation

CLEVELAND--(BUSINESS WIRE)-- 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 $0.2825 per share, payable on September 24, 2025, to stockholders of record on September 10, 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250828212174/en/Chairman and CEO Marc A. Stefanski 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 80.9% of the Company’s common stock outstanding, has waived its right to receive the dividend on its shares. On July 8, 2025, 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 an aggregate amount of $1.13 per share during the twelve months subsequent to the members' approval (ie., through July 8, 2026). The MHC previously waived the receipt of dividends paid by the Company in an aggregate amount of $1.13 per share during the four quarters ending June 30, 2025. On August 28, 2025, the Board of Directors of the Association approved certain leadership changes to be effective as of September 1, 2025. The Board appointed Andrew J. Rubino, who currently serves as the Association's Chief Information Officer, to the role of Chief Operating Officer. Mr. Rubino also serves as Vice President of the Company. Additionally, the Board appointed Michael J. Carfagna as the Association's Chief Information Officer. Mr. Carfagna currently serves as the Information Systems manager for the Association. Mr. Rubino, age 50, has served as the Association's Chief Information Officer since 2021. Mr. Rubino joined Third Federal Savings and Loan in 2000 and has served as a manager in several strategic areas of the company during his tenure, including: Loan Production, Customer Care, Internet Services, Operations Support, and serving as Chief Marketing Officer. Mr. Carfagna, age 44, joined the organization in 2014 as a project manager on strategic business initi...

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