SPRINGFIELD, Mo., Sept. 24, 2003 (PRIMEZONE) -- Guaranty Federal Bancshares, Inc, (Nasdaq:GFED), the holding company for Guaranty Bank, today announced a quarterly dividend of $0.155 per share on 2,764,869 shares of its common stock to be paid on October 17, 2003, to stockholders of record on October 3, 2003. This is an increase of one-half cent per share compared to the $0.15 per share that was paid in the previous quarter.
The company announced a plan to repurchase 300,000 shares of common stock on November 22, 2002. To date the company has repurchased 55,341 shares of common stock under this plan at an average cost of $15.75 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 Bank, is located in Springfield, Missouri, and has nine branches and 18 ATM locations located in Greene and Christian Counties. In addition Guaranty Bank is a member of the Privileged Status ATM network, which provides its customers surcharge free access to over 60 area ATM's and over 1,000 ATM's nationwide.