First Farmers Financial Co. (OTCMKTS:FFMR) Announces Dividend Increase – $0.50 Per Share

First Farmers Financial Co. (OTCMKTS:FFMR) announced a quarterly dividend on Tuesday, June 17th, RTT News reports. Investors of record on Monday, June 30th will be given a dividend of 0.50 per share on Tuesday, July 15th. This represents a $2.00 annualized dividend and a yield of 2.99%. This is a 2.0% increase from First Farmers Financial’s previous quarterly dividend of $0.49.

First Farmers Financial Price Performance

FFMR stock opened at $66.99 on Wednesday. The company’s 50-day moving average price is $66.26 and its two-hundred day moving average price is $66.45. First Farmers Financial has a 12 month low of $64.10 and a 12 month high of $69.99.

First Farmers Financial announced that its board has initiated a stock buyback program on Tuesday, April 15th that permits the company to buyback $4.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

About First Farmers Financial

First Farmers Financial Corporation operates as the financial holding company for First Farmers Bank & Trust that provides banking products and services to individuals, families, and businesses. The company offers checking and savings accounts, health savings accounts, youth accounts, business accounts, deposit and government accounts, certificates of deposit, and individual retirement accounts, as well as account management services; and mortgages and construction loans, first time home buyers loan, home equity loans, auto loans, collateral loans, and debit and credit cards.