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WATSEKA, Ill. - IF Bancorp, Inc. (NASDAQ Capital: IROQ), the parent company of Iroquois Federal Savings and Loan Association, declared a cash dividend of $0.20 per common share, payable on April 15, 2025, to shareholders on record as of March 21, 2025. The dividend represents a 1.67% yield for the $77.32 million market cap institution. According to InvestingPro, the company has maintained dividend payments for 12 consecutive years, demonstrating consistent shareholder returns.
Walter H. Hasselbring, III, Chairman and CEO of IF Bancorp, expressed the company’s commitment to shareholder value, stating the intention to continue offering semiannual dividends, subject to the company’s financial health and other relevant factors. The company’s stock has shown strong momentum, posting a 42.63% return over the past six months.
Iroquois Federal Savings and Loan Association operates seven full-service banking offices across various Illinois municipalities and has a loan production office in Missouri. The institution provides a wide range of retail and commercial lending and deposit services, emphasizing community-oriented financial solutions. With revenue growth of 8.37% in the last twelve months, the bank continues to expand its operations. InvestingPro subscribers can access detailed financial health metrics and additional analysis tools to evaluate banking stocks like IROQ.
This announcement contains forward-looking statements under the Private Securities Litigation Reform Act of 1995, including projections and business trends. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Factors influencing these forward-looking statements include economic conditions, changes in interest rates, loan demand, real estate values, competition, and government actions, among others. The company currently trades at a P/E ratio of 25.2, and based on InvestingPro’s Fair Value analysis, the stock appears to be trading above its intrinsic value.
The information in this article is based on a press release statement from IF Bancorp, Inc.
In other recent news, stockholders of IF Bancorp have expressed their preference for the sale of the company. The proposal, brought forth by Stilwell Activist Investments, L.P., one of IF Bancorp’s largest shareholders, was approved by a 3:2 margin at the recent annual meeting. Although the vote is non-binding, it demonstrates a clear inclination among shareholders for the board to explore a potential sale.
Stilwell is pressuring IF Bancorp’s board to commence the sale process swiftly. In the event that the board does not act on this stockholder-endorsed proposal, Stilwell has stated its intention to seek board representation at the next annual meeting in 2025 to ensure the sale is pursued.
This proposal, submitted under Rule 14a-8 of the Securities Exchange Act of 1934, reflects Stilwell’s belief that IF Bancorp’s asset returns have been underperforming for years. Stilwell contends that a sale at the highest price available at the earliest opportunity would be in the best interest of shareholders.
The results of this vote were made public in a press release statement, indicating a potential shift in direction for IF Bancorp, contingent on the board’s response to the proposal. This development is part of recent events surrounding the company.
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