Record Dividend Declared, FFMR Boosts Buyback by $9M, Completes 2-for-1 Stock Split
FFMR is trading near its 52-week low of $32.05 (6.1% above the low) on light trading volume (0.1× avg).
Summary
First Farmers Financial Corp. declared a record quarterly cash dividend of $0.26 per share, representing a 4.0% increase. The company also significantly increased its stock repurchase authorization by $9 million, bringing the total available for buybacks to approximately $11 million. This follows the completion of its 2-for-1 stock split on June 15th, which was announced in April. These capital allocation decisions demonstrate strong financial performance and a commitment to shareholder returns, which could provide support for the stock.
At the time of this announcement, FFMR was trading at $34.02 on OTC in the Finance sector, with a market capitalization of approximately $472.1M. The 52-week trading range was $32.05 to $35.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.