Kentucky First Federal Bancorp Announces Quarterly Cash Dividend Of $0.10/Share And Expected Future Dividend Reduction Due To The Recent Decline In The Earnings Of The Banks
Portfolio Pulse from Benzinga Newsdesk
Kentucky First Federal Bancorp (NASDAQ:KFFB) announced a quarterly cash dividend of $0.10 per share, payable on November 20, 2023. However, the company expects future dividends to be reduced due to a decline in the banks' earnings. The company is implementing strategies to emphasize core deposit relationships and shift more of the loan portfolio towards higher-earning loans. The board expects that if quarterly dividends continue in 2024, they will be limited to no more than five cents per share.
October 13, 2023 | 1:52 pm
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Kentucky First Federal Bancorp announced a dividend but expects future reductions due to declining bank earnings. This could negatively impact the stock in the short term.
The announcement of a dividend is generally a positive signal to investors. However, the company's warning of future reductions due to declining earnings could negatively impact investor sentiment and the stock price in the short term.
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