Level One Bancorp Announces Quarterly Preferred Stock Cash Dividend

Rhea-AI Summary

Level One Bancorp, Inc. (Nasdaq: LEVL) announced a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Preferred Stock, Series B, equating to $0.4688 per depositary share. This dividend will be paid on May 15, 2021, to shareholders on record as of April 30, 2021. The company, which operates 16 banking centers across Southeast and West Michigan, reported assets of approximately $2.44 billion as of December 31, 2020.

Positive

• Quarterly cash dividend of $46.88 per share announced, indicating strong shareholder returns.
• Company's asset base reported at approximately $2.44 billion, showcasing financial stability.

Negative

• None.

FARMINGTON HILLS, Mich., April 20, 2021 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. (“Level One”) (Nasdaq: LEVL) announced that the Board of Directors of Level One declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Preferred Stock, Series B, represented by depositary shares (Nasdaq: LEVLP) each representing a 1/100th interest in a share of the Series B preferred stock. Holders of depositary shares will receive $0.4688 per depositary share. The dividend is payable on May 15, 2021, to shareholders of record at the close of business on April 30, 2021.

Level One Bancorp, Inc. is the holding company for Level One Bank, a full-service commercial and consumer bank headquartered in Michigan with assets of approximately $2.44 billion as of December 31, 2020. The Company operates sixteen banking centers throughout Southeast Michigan and West Michigan. For more information, visit www.levelonebank.com.  

FAQ

What is the dividend amount for LEVL?

Level One Bancorp announced a dividend of $46.88 per share on its preferred stock.

When is the dividend payment date for Level One Bancorp?

The dividend will be payable on May 15, 2021.

What is the record date for the dividend for LEVL?

The record date for the dividend is April 30, 2021.

What is the significance of the 7.50% Non-Cumulative Preferred Stock for LEVL?

The 7.50% Non-Cumulative Preferred Stock provides a reliable income stream for investors.