other material
confidence high
sentiment neutral
materiality 0.60
MHC members approve dividend waiver of up to $1.27/share; Fed non-objection pending
TFS Financial CORP
- Members voted 97% in favor, representing 59% of total eligible votes cast.
- MHC (81% majority shareholder) will waive dividends up to $1.27/share for 12 months through July 2027.
- MHC must obtain non-objection from Federal Reserve Bank of Cleveland before implementation.
- Timing of Federal Reserve non-objection is unknown at this point.