Oconee Federal sets plan to buy back 50,000 shares

SENECA, S.C. - Oconee Federal Financial Corp. (OTCQX: OFED), the parent company of Oconee Federal Savings and Loan Association, has announced a new stock repurchase program. Under this program, the company, currently trading at $12.80 with a market capitalization of $77.7 million, intends to buy back up to 50,000 shares of its own common stock, which accounts for approximately 0.86% of its issued and outstanding shares.

The repurchase plan’s execution will be influenced by various factors, including market conditions, stock prices, available funds, and potential alternative capital allocations. The timing appears notable, as InvestingPro data shows the stock has gained nearly 9% in the past week, with its RSI indicating overbought territory. The company may conduct these repurchases through several methods, such as open-market transactions, block trades, private negotiations, or under a trading plan that will comply with Securities Exchange Act Rule 10b5-1.

Shares acquired through this repurchase initiative will be classified as treasury shares within the company. The timing and volume of repurchases will be determined by the aforementioned factors, and there is no guarantee of the exact number of shares that will be repurchased.

Oconee Federal Savings and Loan Association, founded in 1924, is a community-focused financial institution headquartered in Seneca, South Carolina. The association operates eight full-service branches across multiple counties in South Carolina and Georgia.

The announcement of the stock repurchase program is based on a press release statement and is part of Oconee Federal Financial Corp.’s broader financial strategies. The company has not provided any expectations for the potential impact of the repurchase program on its financial performance.

Investors interested in Oconee Federal Financial Corp.’s financial information can access details on the investor information page of the company’s website.

The information in this article is based on a press release statement and does not include any forward-looking statements or assumptions about the company’s future performance.

In other recent news, Oconee Federal Financial Corp. has announced a quarterly cash dividend of $0.10 per share. This dividend will be available to stockholders on record as of May 8, 2025, with payment expected on or around May 22, 2025. The announcement highlights the company’s ongoing commitment to returning value to its shareholders, reflecting its financial health and the board’s confidence in its earnings capabilities. Oconee Federal Financial Corp. has a history of serving the community through its financial services, with a presence across multiple counties in South Carolina and Georgia. The company emphasizes that its forward-looking statements are based on current expectations and carry inherent risks and uncertainties. Investors are encouraged to refer to the company’s investor information page for additional financial details. This dividend declaration represents the latest financial development from Oconee Federal Financial Corp.

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