Oconee Federal Financial Corp Declares Cash Dividend

News Summary

Oconee Federal Financial Corp has announced a quarterly cash dividend of $0.10 per share for shareholders, a positive sign of the bank’s financial health. The dividend will be payable to stockholders of record as of February 6, 2025, with payment expected around February 20, 2025. The bank reported a significant net income increase for the last quarter, showcasing solid growth and profitability. As Oconee Federal plans for expansion with the acquisition of Mutual Savings Bank, its commitment to community and shareholder value remains strong.

Dividend Cheer for Shareholders: Oconee Federal Financial Corp Announced Cash Payout

Seneca, South Carolina – Residents and shareholders of Oconee Federal Financial Corp. have something to celebrate! The company, known for its strong community ties and commitment to customer service, has announced a quarterly cash dividend of $0.10 per share. This is great news for those with a stake in the company, and it’s sure to catch the attention of many in the area.

Important Dates to Remember

If you want to get in on this cash boost, make sure you’re in the loop: the dividend will be payable to stockholders of record as of February 6, 2025. You can expect to see that extra cash in your account on or about February 20, 2025. So mark your calendars and keep an eye on your investment horizons.

Impressive Growth Reported

$978,000, equating to $0.17 per diluted share for the quarter ending December 31, 2024. This is a remarkable jump from the previous year when the company made only $320,000, or $0.06 per diluted share, in the same quarter. It’s a clear sign that Oconee Federal is on the upward trajectory!

To put things into perspective, the total dividends paid during the last quarter ended up at an impressive $584,000. This speaks volumes about the bank’s profitability and commitment to rewarding its shareholders.

A Quick Flashback

Let’s not forget that just a few months ago, back on October 24, 2024, the Board declared an earlier quarterly cash dividend, which was made to stockholders of record as of November 7, 2024, and paid out on November 21, 2024. It seems Oconee Federal is dedicated to keeping its shareholders pleased and connected.

What Lies Ahead?

The future also looks bright for this financial institution! With Oconee Federal’s intent to acquire Mutual Savings Bank, which has assets totaling $52 million and serves the Hartsville, South Carolina area, they seem well-poised for expansion. This acquisition is on track to wrap up either late in 2023 or early in 2024, allowing Mutual Savings Bank’s depositors to seamlessly transition as valued customers of Oconee Federal.

Community Impact and Local Presence

Founded in 1924 and headquartered right here in Seneca, Oconee Federal boasts eight full-service branches spread across Oconee and Pickens counties in South Carolina, as well as in Stephens and Rabun counties in Georgia. This makes them a significant player in the banking scene of the region. Curtis T. Evatt, the President and CEO, has been steering the ship, ensuring Oconee Federal remains a trusted name.

Final Thoughts

With high capital ratios exceeding industry standards, Oconee Federal Financial Corp. is not only focused on rewarding its shareholders but also aims to continually enhance its product and service offerings. Residents can count on this community-oriented institution to keep on delivering quality service and support.

For anyone wishing to keep track of Oconee Federal’s financial information, it’s all just a click away on their official website. So, whether you’re a current shareholder or considering getting involved, there’s never been a better time to take a closer look at what Oconee Federal has to offer!

Deeper Dive: News & Info About This Topic

• Oconee Federal Financial Corp. Announces Quarterly Dividend – Business Wire
• Oconee Federal Financial Corp. Announces Quarterly Dividend – Bakersfield.com
• Oconee Federal to Merge with Mutual Savings Bank – American Banker
• Bank M&A 2024 Deal Tracker – S&P Global
• Wikipedia: Oconee Federal Financial Corp.