JOLIET, Ill. - The board of AmeriFed Financial Corp. has approved a 20% increase in the quarterly cash dividend, to 15 cents a share from 12.5 cents, to be paid Jan. 13 to shareholders of record on Jan. 4.

The decision was based on prospects for continuing improvements in core earnings, said Robert B. Breidert, AmeriFed's president and chief executive officer. The company owns AmeriFed Federal Savings Bank, an $899 million-asset institution with 10 offices in and around Will County, Ill.

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