Welcome to our dedicated page for Oconee Fed Finl news (Ticker: OFED), a resource for investors and traders seeking the latest updates and insights on Oconee Fed Finl stock.
Oconee Federal Financial Corp. (OFED) is the holding company for Oconee Federal Savings and Loan Association, a federally chartered savings and loan association founded in 1924 and headquartered in Seneca, South Carolina. This news page compiles company announcements and updates related to its activities as a savings institution in the finance and insurance sector.
News releases for Oconee Federal Financial Corp. frequently cover quarterly and annual financial results, highlighting net income for specific reporting periods, total assets, total loans outstanding and book value measures. These updates often explain how factors such as interest margin and acquisition-related items have affected earnings.
Another recurring theme in OFED news is the declaration of quarterly cash dividends on the company’s common stock. The board of directors has repeatedly announced a $0.10 per share quarterly dividend, along with record dates, payment dates and the total amount of dividends paid in a given quarter or fiscal year.
Investors can also find coverage of capital management actions, such as the authorization of a stock repurchase program to buy back a defined number of issued and outstanding shares, with flexibility to execute purchases through open-market transactions, block trades, negotiated private deals or a Rule 10b5-1 trading plan.
Additional news items may include corporate developments such as director appointments and information about acquisitions, including the acquisition of Mutual Savings Bank in Hartsville, South Carolina, and related financial impacts. By reviewing this news feed, readers can follow Oconee Federal Financial Corp.’s reported performance, shareholder distributions, governance changes and other material disclosures released through public announcements.
Oconee Federal Financial Corp. (OTCQX: OFED), the holding company for Oconee Federal Savings and Loan Association, has announced a quarterly cash dividend of $0.10 per share on its common stock. The dividend will be paid to stockholders of record as of February 6, 2025, with payment scheduled for around February 20, 2025.
Oconee Federal Financial Corp. (OFED) reported net income of $978 thousand ($0.17 per diluted share) for Q4 2024, significantly higher than $320 thousand ($0.06 per diluted share) in Q4 2023. The company's total assets decreased by 1.13% to $658.1 million from $665.6 million in June 2024, while total loans increased to $472.5 million from $469.7 million.
The company maintained its tradition of paying quarterly dividends, marking its 53rd consecutive quarterly dividend of $0.10 per share since December 2011. The stock's book value and tangible book value were $13.64 and $13.19, respectively. The improved earnings were attributed to better interest margins compared to Q4 2023, despite slight decreases in assets due to paying down Federal Home Loan Bank borrowings and deposit fluctuations.
Oconee Federal Financial Corp. (OTCQX: OFED) has announced a quarterly cash dividend of $0.10 per share. The dividend will be distributed to stockholders of record as of November 7, 2024, with payment scheduled for November 21, 2024. This announcement comes from the holding company of Oconee Federal Savings and Loan Association.
Oconee Federal Financial Corp. (OTCQX: OFED) reported net income of $790,000, or $0.14 per diluted share, for the quarter ended September 30, 2024. This marks an increase from $312,000, or $0.06 per diluted share, in the same quarter of 2023. Key highlights include:
- 52 consecutive quarterly dividends of $0.10 per share since December 2011
- Total assets decreased 0.72% to $660.8 million from $665.6 million in June 2024
- Total loans outstanding decreased to $468.6 million from $469.7 million in June 2024
- Stock book value: $14.26; Tangible book value: $13.81
- Earnings increased due to improved interest margin
- Quarterly cash dividend of $0.10 per share paid on August 22, 2024
President and CEO Curtis T. Evatt noted strong capital ratios and expressed optimism for future growth despite slight decreases in assets and deposits.
Oconee Federal Financial Corp. (OTCQX: OFED) reported net income of $6.3 million, or $1.10 per diluted share, for the fiscal year ended June 30, 2024, surpassing the previous year's $3.3 million. The company's total assets increased by 11.8% to $665.6 million, while total loans outstanding rose to $469.7 million. Despite challenges from higher interest rates compressing the net interest margin, OFED's acquisition of Mutual Savings Bank in January 2024 contributed to asset growth and a $4.9 million earnings boost from a bargain purchase gain. The company maintained its quarterly dividend of $0.10 per share, continuing its 51-quarter streak of dividend payments.
Oconee Federal Financial Corp. (OTCQX: OFED), the holding company for Oconee Federal Savings and Loan Association, has announced a quarterly cash dividend of $0.10 per share on its common stock. The dividend will be paid to stockholders of record as of August 8, 2024, with the payment scheduled for August 22, 2024. This announcement demonstrates the company's commitment to providing regular returns to its shareholders, potentially indicating financial stability and confidence in its ongoing operations.
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