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First Franklin Corporation Declares Quarterly Dividend
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CINCINNATI, Oct. 3 /PRNewswire-FirstCall/ -- The board of directors ofFirst Franklin Corporation (Nasdaq: FFHS) has declared a dividend of $0.045per share for the third quarter of 2008. This is the eighty-third consecutivedividend paid by the company. The dividend will be payable October 20, 2008to shareholders of record as of October 10, 2008. In accordance with NASDregulations, the ex-dividend date for this dividend payment is expected to beOctober 7, 2008. Persons who buy or sell shares should consult their brokersregarding the timing of their transactions and the effect of the ex-dividenddate.
The dividend of $0.045 represents a 50% reduction from the second quarterdividend of $0.09. The Board of Directors made the decision to reduce thecompany's dividend citing the need to conserve Franklin's capital base, thecurrent condition of the real estate and credit markets and the downwardpressure on community bank earnings.
"We understand our dividend payments are important to our shareholders andwe are pleased to continue paying a dividend," said Tom Siemers, President andCEO of First Franklin. "However, we must also be prudent and conserve capitalin light of the current economic conditions."
First Franklin is the parent of Franklin Savings, which has eightlocations in Greater Cincinnati.
SOURCE First Franklin Corporation
"We understand our dividend payments are important to our shareholders andwe are pleased to continue paying a dividend," said Tom Siemers, President andCEO of First Franklin. "However, we must also be prudent and conserve capitalin light of the current economic conditions."
First Franklin is the parent of Franklin Savings, which has eightlocations in Greater Cincinnati.
SOURCE First Franklin Corporation
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