other material
confidence high
sentiment neutral
materiality 0.50
MHC seeks member approval to waive dividends up to $1.13/share for 12 months
TFS Financial CORP
- MHC (80.9% owner) will hold special meeting on July 9, 2024 to vote on dividend waiver.
- Proposal waives MHC's right to receive quarterly dividends totaling up to $1.13 per share over 12 months.
- Failure to obtain waiver may reduce dividends paid to public stockholders.
- Similar waiver was approved at July 2023 meeting; Fed Reg MM requires annual vote.