CENFED Financial Corp. declares 10 percent stock dividend.PASADENA, Calif.--(BUSINESS WIRE)--April 2, 1997--The board of directors of CENFED Financial Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CENF) Wednesday announced a 10 percent stock dividend to shareholders of record as of April 17, 1997. The directors also declared a 9 cent per share cash dividend to shareholders of record as of the same date. The stock dividend and cash dividend will be distributed on May 2, 1997. "We are pleased to announce the fifth annual increase in our dividend to shareholders. Similar to last year, the dividend is being increased through a stock dividend. We are maintaining our cash dividend at its present level which, in effect, gives shareholders a 10 percent increase in the cash dividend," stated D. Tad Lowrey, president and chief executive officer. He continued, "We recognize the important role that our dividend record plays in creating shareholder value." CENFED Financial is the holding company for CenFed Bank, a Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks , which operates 18 branches in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Orange, Riverside and San Bernardino San Bernardino, city, United States San Bernardino (săn bûr'nədē`nō), city (1990 pop. 164,164), seat of San Bernardino co., S Calif., at the foot of the San Bernardino Mts.; inc. 1854. counties in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . CONTACT: Steven P. Neiffer, 818/585-2440 William Nichol, 818/585-2595 |
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