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Merchants Bancorp (MBIN) announced two key developments: First, it will redeem all outstanding shares of its Series B Preferred Stock on January 2, 2025, at $25.00 per share, using cash on hand. A final dividend of $0.59 per share will be paid separately on the same date. The Series B Preferred Stock will be delisted from Nasdaq. Second, the company declared an initial quarterly dividend of $7.84 per share on its 7.625% Series E preferred stock, payable January 2, 2025, to shareholders of record on December 13, 2024.
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