Kentucky First Federal cuts quarterly dividend from $0.10 to no more than $0.05 in 2024

Kentucky First Federal Bancorp

Quarterly dividend of $0.10 per share declared for record Oct 31, payable Nov 20, 2023.
Future quarterly dividends in 2024 expected to be no more than $0.05 per share, a 50% reduction.
Cut driven by compressed net interest margins due to historic rate hikes and inverted yield curve.
Banks remain well-capitalized; asset quality good; strategies to shift to core deposits and higher-yielding loans.
Dividends subject to regulatory approval and board discretion.

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