Webster City Federal Bancorp has announced a cash dividend of $.15 per share for the quarter ended December 31, 2007. The dividend will be payable to shareholders of record as of February 5, 2008. The date of payment will be February 20, 2008.
WCF Financial, M.H.C., owner of 2,300,000 of the total outstanding shares of 3,303,034, has announced that it has waived the right to receive the dividend. Accordingly, the dividend will be paid on 1,003,034 marketable shares owned by the minority stockholders.
Webster City Federal Bancorp reported consolidated net earnings of $431,000 or $.12 per share for the year ended December 31, 2007, compared to $649,000 or $.18 per share for the year ended December 31, 2006.
Total assets of the Company for the year ended December 31, 2007 were $93,177,000 compared to $96,768,000 for the same period ended December 31, 2006.
Stockholder's equity decreased by $4,869,000 to $16,481,000 at December 31, 2007 compared to $21,350,000 for the same period ended December 31, 2006. It is noted that $4,200,000 of the decrease in stockholder's equity was due to the completion of the tender offer for the repurchase of 350,000 shares of company stock in December of 2007.
Webster City Federal Bancorp is the holding company for Webster City Federal Savings Bank. The Company stock trades in the Pink Sheets under the symbol of WCFB.