TFS Financial (NASDAQ: TFSL) 81% owner waives latest dividend
Rhea-AI Filing Summary
TFS Financial Corporation (TFSL) announced that its Board of Directors declared a quarterly cash dividend of $0.3175 per share of common stock. The dividend is payable on September 23, 2026 to shareholders of record as of September 9, 2026.
Third Federal Savings and Loan Association of Cleveland, MHC, which owns 227,119,132 shares, or 81% of the common stock outstanding, has waived its right to receive this dividend. The MHC’s members approved, and the Federal Reserve Bank of Cleveland issued a non-objection to, waiving dividends up to an aggregate of $1.27 per share during the twelve months through July 7, 2027, after previously waiving $1.13 per share over the four quarters ended June 30, 2026. As of June 30, 2026, the Company reported total assets of $18.08 billion.
Positive
- None.
Negative
- None.
8-K Event Classification
Item 8.01 — Other Events
1 item
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Key Figures
Quarterly cash dividend per share: $0.3175 per share
MHC ownership of common stock: 227,119,132 shares (81%)
Approved aggregate dividend waiver limit: $1.27 per share
+4 more
7 metrics
Quarterly cash dividend per share
$0.3175 per share
Dividend declared payable on September 23, 2026 to shareholders of record on September 9, 2026
MHC ownership of common stock
227,119,132 shares (81%)
Shares of TFS Financial common stock owned by the MHC
Approved aggregate dividend waiver limit
$1.27 per share
Maximum aggregate per-share dividends the MHC may waive during the 12 months through July 7, 2027
Previously waived dividends
$1.13 per share
Aggregate dividends waived by the MHC during the four quarters ending June 30, 2026
Total assets
$18.08 billion
Company assets as of June 30, 2026
Dividend payment date
September 23, 2026
Payment date for the $0.3175 per share dividend
Dividend record date
September 9, 2026
Record date for the quarterly dividend
Key Terms
mutual holding company, non-objection, forward-looking statements, equal housing lender, +1 more
5 terms
mutual holding company financial
"Third Federal Savings and Loan Association of Cleveland, MHC (the “MHC”), the mutual holding company"
A mutual holding company is a corporate structure where an organization that is owned by its members or policyholders creates a stock company underneath it, so shares can be sold while the original member-owned entity remains the parent. For investors, it matters because it changes who can buy stock, how control and voting are split, and the potential for future share sales or dilution—like a club setting up a store it can sell shares in while the club itself keeps overall control.
non-objection regulatory
"subsequently received the non-objection of the Federal Reserve Bank of Cleveland"
A non-objection is an official indication from a regulator or authority that it does not oppose a proposed action, such as a transaction, filing, or study; it is not the same as a full approval but is a practical green light to proceed. For investors, a non-objection lowers regulatory uncertainty and makes a planned deal or project more likely to move forward, though conditions or further review can still apply — think of it as a neighbor who doesn’t object to your fence, letting you build while not endorsing it fully.
forward-looking statements regulatory
"This news release contains forward-looking statements as defined in the Securities Exchange Act"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
equal housing lender regulatory
"Third Federal, an equal housing lender, has 21 full service branches"
A lender who uses the phrase or logo “Equal Housing Lender” is signaling compliance with U.S. fair‑housing and anti‑discrimination rules that require mortgage and housing-related credit decisions to be based on financial factors, not race, gender, national origin, disability or similar traits. For investors, that label matters because it indicates the institution is managing legal and reputational risk associated with discriminatory lending; compliance helps protect a lender’s ability to originate loans, maintain regulatory standing and avoid costly fines or lawsuits — similar to a restaurant displaying health inspection compliance to reassure patrons and regulators.
stockholders of record financial
"payable on September 23, 2026, to stockholders of record on September 9, 2026"
Stockholders of record are the people or entities whose names appear on a company's official shareholder list on a specific cutoff date set by the company or its transfer agent; only those listed are entitled to receive dividends, vote at shareholder meetings, or participate in other corporate actions. Think of it like a guest list for an event: being on the list on the set day determines who gets the benefits and rights, so investors must own shares before the cutoff to qualify.
FAQ
What dividend did TFS Financial (TFSL) declare and when will it be paid?
TFS Financial declared a quarterly cash dividend of $0.3175 per share, payable on September 23, 2026 to stockholders of record on September 9, 2026.
How much of TFS Financial’s (TFSL) stock does the MHC own and will it receive the dividend?
Third Federal Savings and Loan Association of Cleveland, MHC owns 227,119,132 shares, or 81% of TFSL’s common stock, and has waived its right to receive the declared dividend on these shares.
What regulatory and member approvals support the MHC dividend waiver for TFSL?
On July 7, 2026, MHC members approved the waiver of dividends, and the Federal Reserve Bank of Cleveland issued a non-objection to waiving dividends up to an aggregate of $1.27 per share during the twelve months through July 7, 2027.
How much in dividends has the MHC previously waived on TFS Financial (TFSL) stock?
The MHC previously waived dividends on TFSL common stock in an aggregate amount of $1.13 per share during the four quarters ending June 30, 2026.
What is the size of TFS Financial Corporation (TFSL) as of the latest reported date?
As of June 30, 2026, TFS Financial Corporation reported total assets of $18.08 billion.
What type of company is TFS Financial and where does it operate?
TFS Financial is the holding company for Third Federal Savings and Loan Association of Cleveland, a leading provider of savings and mortgage products. It lends in 28 states and the District of Columbia and operates branches primarily in Ohio and Florida.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) August 27, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
| (Address of principle executive offices) | (Zip Code) | |||||||||||||
Registrant's telephone number, including area code ( 216) 441-6000
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act
| Title of each class | Trading Symbol(s) | Name of each exchange in which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 8.01 Other Events
On August 27, 2026, the Board of Directors of TFS Financial Corporation (the “Company”) declared a cash dividend of $0.3175 per share of common stock. The dividend is payable on September 23, 2026 to shareholders of record as of September 9, 2026. A press release announcing the details of the dividend declaration is attached as exhibit 99.1.
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 81% of the Company’s common stock outstanding, has waived its right to receive the dividend on its shares.
On July 7, 2026, 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 $1.27 per share during the twelve months subsequent to the members' approval (ie., through July 7, 2027). 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, 2026.
The information contained herein and in the accompanying exhibit shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof. The information in this report, including the exhibit hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a) (2) of the Securities Act of 1933, as amended.
FORM 8-K EXHIBIT INDEX
Exhibit No.
99.1 Press Release dated August 27, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
TFS FINANCIAL CORPORATION (Registrant) | ||||||||||||||
| Date: August 27, 2026 | By: | /s/ Meredith S. Weil | ||||||||||||
| Meredith S. Weil | ||||||||||||||
| Chief Financial Officer | ||||||||||||||
Contact: Jennifer Rosa (216) 429-5037 Exhibit 99.1
TFS Financial Corporation Declares Dividend
(Cleveland - August 27, 2026) - 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 $0.3175 per share, payable on September 23, 2026, to stockholders of record on September 9, 2026.
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 81% of the Company’s common stock outstanding, has waived its right to receive the dividend on its shares.
On July 7, 2026, 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 $1.27 per share during the twelve months subsequent to the members' approval (ie., through July 7, 2027). 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, 2026.
Third Federal is a leading provider of savings and mortgage products, and operates under the values of love, trust, respect, a commitment to excellence and fun. Founded in Cleveland in 1938 as a mutual association by Ben and Gerome Stefanski, Third Federal’s mission is to help people achieve the dream of home ownership and financial security while creating value for our customers, communities, associates and shareholders. It became part of a public company in 2007 and celebrated its 85th anniversary in May 2023. Third Federal, which lends in 28 states and the District of Columbia, is dedicated to serving consumers with competitive rates and outstanding service. Third Federal, an equal housing lender, has 21 full service branches in Northeast Ohio, two lending offices in Central and Southern Ohio, and 14 full service branches throughout Florida. As of June 30, 2026 the Company’s assets totaled $18.08 billion.
This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, the Company’s plans regarding its dividends. These forward-looking statements involve risks and uncertainties that could cause the Company’s results to differ materially from management’s current expectations. The Company’s risks and uncertainties are detailed in its filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2025. Forward-looking statements are based on the beliefs and assumptions of our management and on currently available information. The Company undertakes no responsibility to publicly update or revise any forward-looking statement.