WATSEKA, Ill. - IF Bancorp, Inc. (NASDAQ Capital: IROQ), the parent company of Iroquois Federal Savings and Loan Association, disclosed on Wednesday that its Board of Directors has declared a cash dividend of $0.20 per common share. The scheduled payment date for this dividend is October 18, 2024, for shareholders on record by September 27, 2024.
Walter H. Hasselbring, III, President and CEO of IF Bancorp, Inc., expressed the company's commitment to rewarding shareholders through dividends, which he stated reflects a continuing strategy to enhance shareholder value. Hasselbring affirmed the intention to maintain the practice of distributing semiannual dividends, subject to the company's financial health and prevailing circumstances.
Iroquois Federal Savings and Loan Association operates as a community-focused financial institution, offering a variety of retail and commercial lending and deposit services.
The association serves its customers through seven full-service banking offices spread across multiple Illinois municipalities, including Watseka, Danville, Clifton, Hoopeston, Savoy, Bourbonnais, and Champaign, and also operates a loan production office in Osage Beach, Missouri.
InvestingPro Insights
As IF Bancorp, Inc. (NASDAQ Capital: IROQ) continues its tradition of rewarding shareholders with dividends, the latest data from InvestingPro offers insights into the company's financial health. With a market capitalization of $54.53 million, IF Bancorp demonstrates a commitment to shareholder returns, having raised its dividend for 8 consecutive years and maintained dividend payments for 12 consecutive years, as noted in the InvestingPro Tips.
The company's current P/E ratio stands at 27.5, reflecting investor sentiment about its earnings potential. Despite a revenue decline of 14.93% in the last twelve months as of Q3 2024, IF Bancorp has managed to maintain a dividend yield of 2.35%, which is attractive to income-focused investors. The company's operating income margin during the same period was 14.26%, indicating a solid profitability from its operations.
Investors considering IF Bancorp's stock will find additional InvestingPro Tips available, which provide deeper analysis and could further inform investment decisions. There are currently 5 more tips listed on InvestingPro for IF Bancorp, which can be accessed at https://www.investing.com/pro/IROQ. These tips, coupled with real-time metrics, can help investors gauge the company's performance and potential for future dividends.
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