SPRINGFIELD, Mo., March 21, 2003 (PRIMEZONE) -- Guaranty Federal Bancshares, Inc. (Nasdaq:GFED), the holding company for Guaranty Federal Savings Bank, today announced a quarterly dividend of $0.15 per share on 2,788,957 shares of its common stock to be paid on April 14, 2003, to stockholders of record on March 31, 2003.
The company announced a plan to repurchase 300,000 shares of common stock on November 22, 2002. To date the company has repurchased 34,073 shares of common stock under this plan at an average cost of $15.35 per share.
The discussion set forth above may contain forward-looking comments. Such comments are based upon the information currently available to management of the Company and management's perception thereof as of the date of this release. Actual results of the Company's operations could materially differ from those forward-looking comments. The differences could be caused by a number of factors or combination of factors including, but not limited to: changes in demand for banking services; changes in portfolio composition; changes in management strategy; increased competition from both bank and non-bank companies; changes in the general level of interest rates; the effect of regulatory or government legislative changes; technology changes; and fluctuation in inflation.
Guaranty Federal Bancshares, Inc. has a subsidiary corporation offering full banking services. The principal subsidiary, Guaranty Federal Savings Bank, is located in Springfield, Missouri, and has eight branches and 18 ATM locations located in Greene and Christian Counties. In addition Guaranty Federal is a member of the Privileged Status ATM network, which provides its customers surcharge free access to over 60 area ATMs and over 1,000 ATMs nationwide.