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SFFED DECLARES FIRST DIVIDEND

 SAN FRANCISCO, April 8 /PRNewswire/ -- SFFed Corp., (NASDAQ: SFFD), the holding company for San Francisco Federal Savings and Loan Association, today announced an initial quarterly dividend of five cents per share ($0.05) payable on May 14, 1993, to holders of record of its common stock on April 22, 1993.
 In announcing the dividend, Roger L. Gordon, chairman and chief executive officer said, "I am pleased to announce the initiation of a dividend on our common stock. We have felt for some time that a dividend was appropriate but held off until now due to changing regulatory capital requirements and adverse effects of the California real estate market. San Francisco Federal's capital levels now comfortably exceed all regulatory requirements and, while the California real estate climate remains fragile, initiation of a dividend policy reflects the confidence of the directors and management in the strength of San Francisco Federal's capital structure and its future earnings capability."
 SFFed Corp., with assets of $3.2 billion is the holding company for San Francisco Federal Savings and Loan Association, which operates 35 savings branches and 13 loan offices in Northern and Central California. At Dec. 31, 1992, the company had 7,750,363 shares of common stock outstanding held by approximately 6,000 shareholders.
 -0- 4/8/93
 /CONTACT: Roger L. Gordon, 415-955-5809, or Marilu Rumolo-Boucher, 415-955-3083, both of SFFed/
 (SFFD)


CO: SFFed Corp.; San Francisco Federal Savings and Loan Association ST: California IN: FIN SU: DIV

SG -- SF010 -- 4275 04/08/93 13:28 EDT
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Publication:PR Newswire
Date:Apr 8, 1993
Words:252
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