Teche Holding Company – TSH – Stock repurchase program and Quarterly Dividend
Teche Holding Company (NYSE: TSH) – Patrick Little, President and CEO of Teche Holding Company, the holding company for Teche Federal Bank, announced that its board of directors authorized a stock repurchase program. Teche has adopted a plan to repurchase up to 3%, or approximately 62,000 shares, of the Company’s common stock.
In announcing the stock repurchase program, Little commented, “The Company’s Board of Directors believes that adoption of a stock repurchase program signals confidence in our long term performance and our commitment to continuously improve the rate of return for our shareholders.”
The repurchases will be made in accordance with the plan and are expected to be made from time to time in open-market and privately negotiated transactions, subject to the availability of stock, market conditions, the trading price of the stock and the Company’s financial performance. Such repurchased shares may become treasury shares and utilized for general corporate and other purposes, including the issuances of shares to the Company’s stock benefit plans to mitigate the potentially dilutive effects of such plans. The repurchase program is expected to be completed in 12 to 18 months.
Teche Holding Company – TSH – Announced Quarterly Dividend
TSH Announced Quarterly Dividend of $0.365 Per Common Share, Yield of 3.75% and Payout Ratio of 44.0%. The Board of Directors of Teche Holding Company, holding company of Teche Federal Bank, declared a quarterly dividend of $0.365 per share of its common stock. The effective dividend yield amounts to 3.75% based on the stock price on the close of business on August 21, 2012.
The dividend is 1.38% higher than the rate of $0.36 per common share this time last year. This represents a quarterly payout ratio of 44.0% based on diluted earnings per share for the quarter ended June 30, 2012. The dividend will be paid on September 28, 2012 to shareholders of record as of the close of business on September 14, 2012. The company has paid a cash dividend for 69 consecutive quarters.
About Teche Holding Company – TSH
Teche Holding Company (TSH) is the parent company of Teche Federal Bank, a Louisiana chartered commercial bank which operates eighteen offices in South Louisiana and serves over 60,000 customers. Teche Federal Bank is the fourth largest publicly owned bank based in Louisiana with over $829 million in assets. Deposits at Teche Federal Bank are insured up to the legal maximum amount by the Federal Deposit Insurance Corporation (FDIC).
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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