RENO - Amfed Financial Inc., holding company for American Federal Savings Bank, said its board has declared a third consecutive quarterly cash dividend.

The $700 million-asset thrift will pay 5 cents per share on Jan. 28 to shareholders of record Jan. 11.

The board, which also authorized a 10% stock dividend in the summer, "hopes to pay cash dividends on a regular quarterly basis and views this as one method of improving shareholder value," said E.R. Houston, chairman and chief executive officer.

American Federal, which has 26 offices in Nevada, completed an initial public stock offering in November 1992.

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