First Defiance Financial (FDEF) Slashes Dividend in Half
Up)
First Defiance Financial Corp. (Nasdaq: FDEF) announced today that its Board of Directors has declared a quarterly cash dividend of $0.085 per common share payable July 24, 2009 to stockholders of record at the close of business on July 10th, 2009. The second quarter dividend represents an annualized dividend yield of 2.5% based on First Defiance common stock closing price on June 18, 2009.
"Our Board believes it is prudent to proceed conservatively with quarterly dividends until the current economic environment stabilizes and therefore reduced the dividend by 50%," said William J. Small, Chairman, President and CEO of First Defiance Financial Corp. "This decision is not based on any significant or specific issues within the company. It is based on external concerns such as the rate of the economic recovery, the upcoming FDIC Special Assessment and uncertainty over the impact of proposed regulatory reforms." [SM]
"Our Board believes it is prudent to proceed conservatively with quarterly dividends until the current economic environment stabilizes and therefore reduced the dividend by 50%," said William J. Small, Chairman, President and CEO of First Defiance Financial Corp. "This decision is not based on any significant or specific issues within the company. It is based on external concerns such as the rate of the economic recovery, the upcoming FDIC Special Assessment and uncertainty over the impact of proposed regulatory reforms." [SM]
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