Merchants Bancorp Increases Quarterly Common Dividend by 13%; Declares Quarterly Common and Preferred Dividends

Rhea-AI Summary

Merchants Bancorp (Nasdaq: MBIN) has announced its quarterly cash dividends for Q1 2021. The Board declared a dividend of $0.09 per share on common stock, reflecting a 13% increase from Q4 2020. Additionally, a dividend of $0.4375 per share on 7% Series A preferred stock (Nasdaq: MBINP) and $15.00 per share on 6% Series B preferred stock (Nasdaq: MBINO) were declared. Shareholders of record on March 15, 2021, will receive these payments on April 1, 2021.

Positive

• Dividend increased by 13% to $0.09 per share on common stock.
• Continued dividend payments indicate financial stability.

Negative

• None.

CARMEL, Ind., Feb. 18, 2021 /PRNewswire/ -- Merchants Bancorp ("Merchants") (Nasdaq: MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that its Board of Directors declared the following quarterly cash dividends for the first quarter of 2021, in each case to shareholders of record on March 15, 2021, payable on April 1, 2021:

• A dividend of $0.09 per share on the Company's outstanding shares of its common stock (NASDAQ: MBIN), an increase of 13% compared to the fourth quarter of 2020;

• A dividend of $0.4375 per share on the Company's outstanding shares of its 7% Series A preferred stock (NASDAQ: MBINP);

• A dividend of $15.00 per share (equivalent to $0.375 per depositary share) on the Company's outstanding shares of its 6% Series B preferred stock (NASDAQ: MBINO).

ABOUT MERCHANTS BANCORP

Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple lines of business, including multi-family housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending and traditional community banking.  Merchants Bancorp, with $9.6 billion in assets and $7.4 billion in deposits as of December 31, 2020, conducts its business through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Farmers-Merchants Bank of Illinois, and Merchants Mortgage, a division of Merchants Bank of Indiana. For more information and financial data, please visit Merchants' Investor Relations page at investors.merchantsbancorp.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/merchants-bancorp-increases-quarterly-common-dividend-by-13-declares-quarterly-common-and-preferred-dividends-301231199.html

SOURCE Merchants Bancorp

FAQ

What are the details of Merchants Bancorp's dividend announcements for 2021?

Merchants Bancorp declared a $0.09 per share dividend on common stock, $0.4375 on Series A preferred stock, and $15.00 on Series B preferred stock.

When will Merchants Bancorp's dividends be paid?

Dividends will be paid on April 1, 2021, to shareholders of record as of March 15, 2021.

How much has the common dividend increased for Merchants Bancorp?

The common dividend has increased by 13%, going from the previous amount to $0.09 per share.

What are the stock symbols for Merchants Bancorp's preferred shares?

The stock symbols are MBIN for common shares, MBINP for Series A preferred shares, and MBINO for Series B preferred shares.