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COLUMBUS, Ohio - CF Bankshares Inc. (NASDAQ: CFBK), the parent company of CFBank, NA, has declared a quarterly cash dividend for its common and preferred stockholders. On Monday, the company’s Board of Directors announced a $0.07 per share dividend on common stock and a $7.00 per share dividend on Series D preferred stock. Each share of Series D preferred stock is convertible at the rate of 100 shares of common stock. According to InvestingPro data, CFBK has consistently raised its dividend for five consecutive years, with the current yield standing at 1.28%.
The dividends are scheduled to be paid on April 22, 2025, to shareholders who are on record by the close of business on April 14, 2025. This declaration follows CF Bankshares Inc.’s strategy of delivering shareholder value and reflects the company’s financial health, though InvestingPro analysis suggests the stock is currently trading slightly above its Fair Value.
CF Bankshares Inc. operates CFBank, a nationally chartered commercial bank, which has shown significant growth since its recapitalization in 2012. With a current market capitalization of $140 million and a P/E ratio of 10.7, the bank trades at 0.83 times its book value. CFBank provides a range of services including commercial and retail banking, mortgage lending, and treasury management, focusing on closely held businesses and entrepreneurs across its five major markets in Ohio and Indiana.
The company prides itself on combining the sophistication of larger banks with personalized service and easy access to decision-makers, which they believe sets them apart in the industry.
This financial move by CF Bankshares Inc. is based on a press release statement and reflects the company’s ongoing commitment to its shareholders.
In other recent news, CF Bankshares Inc. has announced a change in its auditing firm for the fiscal year ending December 31, 2025. The company will engage Plante & Moran, PLLC as its new independent registered public accounting firm, following the dismissal of Forvis Mazars, LLP. This transition is part of CF Bankshares’ regular corporate governance practices, and there were no disagreements with Forvis Mazars over accounting principles or practices during their tenure. Additionally, CF Bankshares has initiated a stock repurchase program, authorizing the buyback of up to 325,000 shares, which represents about 5% of its outstanding common stock. The repurchase program is set to run until January 31, 2026, with the specifics of the buybacks to be determined by management based on market conditions and other factors. Timothy T. O’Dell, President and CEO, highlighted the board’s belief in the company’s value and their commitment to enhancing shareholder value through this initiative. These developments were disclosed in a press release from CF Bankshares, emphasizing that forward-looking statements are subject to risks and uncertainties.
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