By a News Reporter-Staff News Editor at Investment Weekly News -- Logansport Financial Corp. (OTCBB:LOGN), an Indiana corporation which is the holding company for Logansport Savings Bank, FSB, a state commercial bank located in Logansport, Indiana, announces that Logansport Financial Corp. has declared a quarterly cash dividend of $.16 on each share of its common stock for the third quarter of 2014. The dividend is payable on October 15, 2014 to the holders of record on September 15, 2014.
Logansport Financial Corp. (the "Corporation") also announced that the Board of Directors has approved the repurchase, from time to time, on the open market of up to 65,441 of the Corporation's outstanding shares of common stock, without par value ("Common Stock"), or approximately 10% of its outstanding shares. Such purchases will be made subject to market conditions in open market or block transactions. Repurchases may begin as early as August 13, 2014, as the required regulatory clearances have been received.
According to Arden L. Cramer, President of the Corporation, the Board believes that the Corporation's shares are currently undervalued by the market and that open market purchases will have the effect of enhancing the book value per share and the potential for growth in earnings per share of the Corporation's remaining outstanding shares.
Keywords for this news article include: Investment and Finance, Logansport Financial Corp.
Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC