IF Bancorp Announces Initial Cash Dividend; To Repurchase Up To 228,535 Shares

(RTTNews) - IF Bancorp Inc. (IROQ), the holding company for Iroquois Federal Savings and Loan Association, announced that its Board declared an initial cash dividend of $0.05 per common share. The dividend will be paid on or about October 15, 2013, to stockholders of record as of the close of business on September 23, 2013. This is the first cash dividend for the Company since the completion of its initial public offering on July 7, 2011, IF Bancorp said.

The company also announced that its Board has adopted a second stock repurchase program. As per the new repurchase program, the company may repurchase up to 228,535 shares of its common stock, or approximately 5% of the current outstanding shares.