Security Federal Corp 8-K, filed Mar 17, 2022
Security Federal Corp (SFDL)
8-K
2022-03-17
For: 2022-03-16
View Original
Added on
April 11, 2026
About this 8-K
Security Federal Corp filed this 8-K on March 17, 2022, reporting on events of March 16, 2022.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
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UNITED STATES
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SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
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FORM
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CURRENT REPORT
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Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported):
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(Exact name of registrant as specified in its charter)
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(State or other jurisdiction
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(Commission
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of incorporation)
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Identification No.)
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(Address of principal executive offices)
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(Zip Code)
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Registrant's telephone number (including area code): (
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions.
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CFR 240.14d-2(b))
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CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
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Item 8.01 Other Events
On March 16, 2022, Security Federal Corporation (“Company”) announced that the Company’s Board of Directors
declared a special cash dividend of $0.28 per share. Shareholders of the Company’s common stock at the close of business on March 31, 2022 will be entitled to receive the cash dividend. The cash dividend will be payable on April 15, 2022. The press
release announcing the special cash dividend is attached as Exhibit 99.1 and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, hereunto duly authorized.
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SECURITY FEDERAL CORPORATION
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Date: March 16, 2022
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By:
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/s/ Roy G. Lindburg |
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Roy G. Lindburg
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President
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Exhibit 99.1
NEWS RELEASE
SECURITY FEDERAL CORPORATION ANNOUNCES SPECIAL DIVIDEND
Aiken, South Carolina (March 16, 2022) - Security Federal Corporation (“Company”) (OTCBB: SFDL), the parent company of Security
Federal Bank (“Bank”), today announced that its Board of Directors has declared a special cash dividend of $0.28 per share. The dividend will be paid on April 15, 2022 to shareholders of record as of March 31, 2022.
Chief Executive Officer J. Chris Verenes, commented that “Due to our continued profitability, we are very pleased to provide this
payment to our shareholders. This is a special dividend and the payment and amount of future dividends will be predicated on the Board’s assessment of the financial condition, earnings and capital requirements of the Company.”
Security Federal Bank has seventeen full service branch locations in Aiken, Ballentine, Clearwater, Columbia, Graniteville, Langley,
Lexington, North Augusta, Ridge Spring, Wagener and West Columbia, South Carolina and Evans and Augusta, Georgia. A full range of range of financial services, including
trust and investments, are provided by the Bank, and insurance services are provided by the Bank’s wholly owned subsidiary, Security Federal Insurance, Inc.
Security Federal Corporation common stock is traded on the Over-the Counter Bulletin Board under the symbol SFDL.
Cautionary Note Regarding Forward-Looking Statements
This press
release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements may be identified by reference to a future
period or periods, or by the use of forward-looking terminology, such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,” “expect,” “will,” “may,” “continue,” or similar terms or variations on those terms, or the negative
of those terms. Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include the effect of the COVID-19 pandemic, including
on our credit quality and business operations, as well as its impact on the real estate and economic environment, particularly in the market areas in which the Bank operates; increased competitive pressures; changes in the interest rate
environment; general economic conditions or conditions within the securities markets; and legislative and regulatory changes affecting financial institutions, including regulatory compliance costs and capital requirements that could adversely
affect the business in which the Company and the Bank are engaged; and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission
that are available on our website at www.securityfederalbank.com and on the SEC's website at www.sec.gov.