The board of TFS Financial Corp. (MHC) declared a cash dividend of 27 cents per common share, up from the previous payout of 25 cents per common share.
The dividend will be paid Sept. 17 to shareholders of record as of Sept. 3.
Third FS&LA of Cleveland MHC, which owns the majority of the company's outstanding common shares, waived its right to receive the dividend.
Third FS&LA members voted July 16 to approve the waiver of dividends, aggregating up to $1.10 per share, during the four quarters ending June 30, 2020. Third FS&LA subsequently received the non-objection of the Federal Reserve Bank of Cleveland for the waiver of dividends.
