Glendale Federal Savings & Loan Assn. reported record annual earnings, while Columbia Savings & Loan Assn. said its second-quarter profits were the best in its history.
Glendale Federal said it earned $55.6 million for the fiscal year ended June 30, including $18.1 million in the fourth quarter. In fiscal 1984, the S&L earned $42.8 million, including $13.2 million in the final quarter.
In addition, Glendale Federal declared its first quarterly dividend--5 cents a share--since going public in October, 1983. The dividend is payable Aug. 16 to shareholders of record on August 5.
The savings and loan, fifth largest in California with $13.2 billion in assets, said increases were due to record loan volume, improved interest-rate spreads and strong profits from diversified subsidiaries.