TFS Financial Corporation announced that its Mutual Holding Company (MHC), which owns 80.9% of the Company’s outstanding common stock, will hold a special meeting of its members on July 8, 2025. The purpose of this meeting is to vote on a proposal to waive the MHC’s right to receive quarterly dividends totaling up to $1.13 per share.
This proposed waiver would cover dividends declared by the Company during the 12-month period following the member vote, through July 8, 2026. Federal Reserve regulations require the MHC to annually solicit member approval for these dividend waivers.
The MHC has historically received overwhelming support for these waivers, with approximately 97% of votes cast in favor over the past eleven years. A failure to obtain this waiver would likely result in a reduction in the dividend expected to be paid to public stockholders, making this vote crucial for the company's dividend policy.
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