Item 8.01. Other Events.
On October 5, 2021, CF Bankshares Inc. (the "Company) announced that its Board
of Directors has declared a quarterly cash dividend on its common stock in the
amount of $0.04 per share, which will be payable on November 2, 2021 to
stockholders of record as of the close of business on October 22, 2021.
On September 29, 2021, the Board of Directors of CF Bankshares Inc. (the
"Company) approved an increase in the number of shares that may be repurchased
by the Company under its stock repurchase program previously announced on
January 28, 2021, from 250,000 to 350,000, and further extended the stock
repurchase program through June 30, 2022. Under the stock repurchase program,
the Company may purchase shares of its common stock from time to time through
various means, including open market transactions and privately negotiated
transactions. Open market repurchases will be made in accordance with applicable
securities laws and regulations, including Rule 10b-18 under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), and may be effected
pursuant to Rule 10b5-1 under the Exchange Act. The manner, timing and amount of
any stock repurchases will be determined by the Company's management in its
discretion based on its evaluation of various factors, including the trading
price of the Company's common stock, market and economic conditions, regulatory
requirements and other corporate considerations. The repurchase program may be
suspended or discontinued at any time.
A copy of the press release issued by the Company on October 5, 2021, announcing
the declaration of the quarterly dividend and the increase and extension of the
Company's stock repurchase program, is included as Exhibit 99.1 to this Current
Report on Form 8-K and incorporated by reference.
Item 9.01. Financial Statements and Exhibits
(a) Not applicable
(b) Not applicable
(c) Not applicable
(d) Exhibits
99.1 Press Release issued by the Company on October 5, 2021, announcing
declaration of quarterly dividend and increase and extension of stock
repurchase program.
104Cover Page Interactive Data File (the cover page XBRL tags are embedded
within the Inline XBRL document).
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