SHREVEPORT, La., July 22, 2020 (GLOBE NEWSWIRE) -- Home Federal Bancorp, Inc. of Louisiana (the “Company”) (NASDAQ: HFBL) the holding company for Home Federal Bank announced today that its Board of Directors at their meeting on July 22, 2020, declared an increase in the quarterly cash dividend to $0.165 per share on the Company’s common stock. The dividend is payable on August 17, 2020, to the shareholders of record at the close of business on August 3, 2020.
James R. Barlow, President and Chief Executive Officer, stated, “This seventh annual increase in our dividend rate, and 61st consecutive quarterly cash dividend, reflects our continued commitment to creating value for our shareholders and confidence in the financial strength and long-term prospects for our Company. This represents a 3.125% increase in the dividend rate and, based on our earnings for the quarter ended March 31, 2020, the increase reflects a payout ratio of approximately 30%.”
Home Federal Bancorp, Inc. of Louisiana is the holding company for Home Federal Bank which conducts business from its seven full-service banking offices and home office in northwest Louisiana. Additional information is available at www.hfbla.com.
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Home Federal Bancorp, Inc. of Louisiana