TFS Financial Corporation (TFSL) Announces 10M Common Stock Buyback

TFS Financial Corporation (Nasdaq: TFSL) announced that the Board of Directors of the Company approved the Company's sixth stock repurchase program, which authorizes the purchase of up to 10,000,000 shares of the Company's outstanding common stock. The Company's fifth repurchase program, which authorized the repurchase of 5,000,000 shares and began April 9, 2014, is expected to be completed soon. Currently over 4,700,000 shares have been repurchased under that plan at an average cost of $13.58 per share.

"This stock repurchase program is the latest step in our three-dimensional approach to adding value for our shareholders," said Third Federal Chairman and CEO Marc A. Stefanski. "Now that we are paying a dividend, buying back our stock, and growing our company, we have great momentum as we head into our new fiscal year."

The stock repurchase program may be carried out at the direction of management, subject to the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other legal requirements, and any further limitations that may be established by the Board of Directors. Repurchases may be made through open market purchases, block trades, and in negotiated private transactions. The stock may be repurchased on an ongoing basis and will be subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital and the Company's financial performance. The program may be suspended, terminated or modified at any time for any reason without prior notice. Any repurchased shares will be held as treasury stock and will be available for general corporate purposes.

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