First Guaranty Bancshares, Inc. Declares 4th Quarter 2023 Preferred Stock Dividend

Rhea-AI Summary

First Guaranty Bancshares, Inc. announces a quarterly distribution for its depositary shares of its Series A Preferred Stock. Holders of record as of November 15, 2023 will receive a $0.421875 per Depositary Share dividend on December 1, 2023.

Positive

• First Guaranty Bancshares, Inc. declares a $0.421875 per Depositary Share dividend for its Series A Preferred Stock, resulting in a $16.875 per share quarterly cash dividend. This could positively impact the stock price.

Negative

• None.

HAMMOND, La., Oct. 23, 2023 (GLOBE NEWSWIRE) -- On October 19, 2023 the Board of Directors of First Guaranty Bancshares, Inc. ("First Guaranty") announced that on December 1, 2023, holders of record as of November 15, 2023 (the "Depository Shares Record Date") of its depositary shares (the "Depositary Shares"), each representing a 1/40th interest in the Corporation's 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock (the "Series A Preferred Stock"), will receive a quarterly distribution in the amount of $0.421875 per Depositary Share, resulting from First Guaranty's declaration of a $16.875 per share of Series A Preferred Stock quarterly cash dividend, which underlies the Depositary Shares. On December 1, 2023, the Series A Preferred Stock dividend will be paid to the depositary for the Series A Preferred Stock. The depositary will, in turn, distribute such dividend to the holders of record of the Depositary Shares as of the Depositary Shares Record Date.

About First Guaranty Bancshares, Inc.

First Guaranty Bancshares, Inc. is the holding company for First Guaranty Bank, a Louisiana state-chartered bank. Founded in 1934, First Guaranty Bank offers a wide range of financial services and focuses on building client relationships and providing exceptional customer service. First Guaranty Bank currently operates thirty-six locations throughout Louisiana, Texas, Kentucky and West Virginia. First Guaranty’s common stock trades on the NASDAQ under the symbol FGBI. For more information, visit www.fgb.net.

CONTACT: ALTON LEWIS, CEO AND ERIC DOSCH, CFO

985.375.0350 / 985.375.0308

FAQ

When will the dividend be paid for First Guaranty Bancshares, Inc. Series A Preferred Stock?

The dividend will be paid on December 1, 2023.

What is the amount of the dividend per Depositary Share?

The dividend per Depositary Share is $0.421875.

What is the record date for the Depositary Shares?

The record date for the Depositary Shares is November 15, 2023.

What is the quarterly cash dividend for the Series A Preferred Stock?

The quarterly cash dividend for the Series A Preferred Stock is $16.875 per share.