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The dividend is 1.43% higher than the rate of $0.345 per common share this time last year and equal to the $0.35 per share paid the prior quarter. This represents a quarterly payout ratio of 44.9% based on net income for the quarter ended March 31, 2009. The effective dividend yield amounts to 4.0% based on the stock price on the close of business on May 27, 2009. The dividend will be paid on June 30, 2009 to shareholders of record as of the close of business on June 16, 2009. The company has paid a cash dividend for 53 consecutive quarters.
Teche Federal presently operates twenty offices in the Louisiana parishes of St. Mary, Iberia, Lafayette, St. Martin, Terrebonne, Lafourche, St. Landry, East Baton Rouge and Ascension. The Company's common stock is listed as Teche Holding Company and is traded under the symbol "TSH" on the NYSE - AMEX. The bank's website address is www.teche.com. The Federal Deposit Insurance Corporation (FDIC) insures deposits at Teche Federal Bank up to the legal maximum limits.
"This release may contain forward-looking statements. We caution that such statements may be subject to a number of uncertainties and actual results could differ materially and, therefore, readers should not place undue reliance on any forward-looking statements. Teche Holding Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements."
For More Information Contact: Ross Little, Jr. (337) 560-7151
SOURCE: Teche Holding Company
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