SOURCE: Teche Holding Company

March 01, 2007 11:52 ET

Teche Holding Company Announces Sixteenth Consecutive Dividend Increase

FRANKLIN, LA -- (MARKET WIRE) -- March 1, 2007 -- The Board of Directors of Teche Holding Company (AMEX: TSH), holding company of Teche Federal Bank, yesterday declared an increase in the quarterly dividend to $0.31 per share of its common stock. This is the sixteenth consecutive quarter in which the Company has increased its quarterly dividend.

The dividend is 14.9% higher than the rate of $0.27 per common share this time last year and 3.5% higher than the $0.30 per share paid the prior quarter. This represents a quarterly payout ratio of 39.7% based on net income for the quarter ended December 31, 2006. The effective dividend yield amounts to 2.73% based on the stock price on the close of business on February 28, 2007. The dividend will be paid on March 30, 2007 to shareholders of record as of the close of business on March 16, 2007. The company has paid a cash dividend for 47 consecutive quarters.

Teche Federal presently operates nineteen 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 American Stock Exchange. 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."

Contact Information

  • For More Information Contact:
    Ross Little, Jr.
    (337) 560-7151