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On Monday, WaFd Inc., a $2.39 billion market cap bank, announced a dividend for its Series A Preferred Stock shareholders. The Seattle-based bank, known formally as Washington Federal (NASDAQ:WAFD) Inc. before its name changes in September 2023, stated that the dividend amounts to $12.1875 per share of its 4.875% Fixed Rate Series A Non-Cumulative Perpetual Preferred Stock. According to InvestingPro data, WaFd has maintained dividend payments for an impressive 43 consecutive years.
This declaration translates to $0.30468750 per depositary share, with each share representing a 1/40th interest in a share of the Series A Preferred Stock. The dividend is scheduled to be paid on July 15, 2025, to shareholders who are on record as of June 30, 2025. The bank currently offers a regular dividend yield of 3.63%, supported by strong revenue growth of 12.73% in the last twelve months.
The preferred shares, trading under the NASDAQ ticker symbol "WAFDP," will provide holders with the aforementioned dividend. This financial event follows the company’s established pattern of rewarding its shareholders and maintaining its commitment to shareholder returns. InvestingPro analysis shows the bank trading at a P/E ratio of 11.33, with its stock price slightly above the calculated Fair Value.
WaFd Inc., with its primary business address at 425 Pike Street, Seattle, Washington, operates under the National Commercial Banks industry with a central index key of 0000936528. The company, which has a fiscal year-end on September 30, is incorporated in Washington and has been assigned the IRS Employer Identification Number 91-1661606. InvestingPro subscribers can access additional insights, including 8 more exclusive ProTips and detailed financial health metrics currently rated as FAIR.
The information regarding the dividend declaration is based on an SEC filing and is intended to provide shareholders with the latest financial developments of the company. WaFd Inc. has not provided any forward-looking statements or projections in this announcement, focusing strictly on the dividend details.
Investors and interested parties should note that the information presented is based solely on the company’s recent SEC filing and does not constitute any form of investment advice or recommendation.
In other recent news, Washington Federal reported financial results that exceeded expectations, delivering a $0.06 per share pre-provision net revenue beat. This performance led to a notable rally in the company’s shares. Analyst firm Keefe, Bruyette & Woods adjusted Washington Federal’s price target from $32.00 to $30.00, maintaining a Market Perform rating, while DA Davidson reduced their target to $29.00, keeping a Neutral rating. Both firms acknowledged the bank’s strategic share buyback program as a stabilizing factor amidst challenges in loan growth. Additionally, Washington Federal plans to release its quarterly earnings for the period ending March 31, 2025, on April 17, 2025, after market close. This announcement is part of the company’s standard financial disclosure practices. Furthermore, WaFd Inc., the bank’s holding company, has approved a new 2025 Stock Incentive Plan, allowing for the issuance of 3,250,000 shares of common stock. The plan is designed to align employee interests with shareholder value through equity participation and includes various stock-based awards. The plan’s approval and other shareholder votes were documented in a recent proxy statement.
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