Midland States Bancorp, Inc. Announces Common Stock and Preferred Stock Dividends

Rhea-AI Summary

Midland States Bancorp, Inc. (NASDAQ: MSBI) declared a quarterly cash dividend of $0.29 per share, payable on November 21, 2022 to shareholders of record by November 14, 2022. Additionally, a cash dividend of $27.56 per share on its 7.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, or $0.689 per depositary share, will be paid on December 30, 2022 for record holders by December 15, 2022. Midland reported total assets of approximately $7.81 billion as of September 30, 2022.

Positive

• Quarterly cash dividend of $0.29 per share enhances shareholder income.
• Total assets of approximately $7.81 billion indicate robust financial health.

Negative

• None.

EFFINGHAM, Ill., Oct. 31, 2022 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ: MSBI) announced today that its Board of Directors declared a quarterly cash dividend of $0.29 per share of its common stock. The dividend is payable on November 21, 2022 to all shareholders of record as of the close of business on November 14, 2022.

The Board of Directors also declared a cash dividend of $27.56 per share on its 7.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, or $0.689 per depositary share. The dividend will be payable on December 30, 2022 to stockholders of record as of December 15, 2022. The dividend declared reflects the payment for the initial Series A dividend period from and including August 24, 2022, which was the original issue date of the Series A preferred stock, to but excluding December 30, 2022.

About Midland States Bancorp, Inc.

Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of September 30, 2022, the Company had total assets of approximately $7.81 billion, and its Wealth Management Group had assets under administration of approximately $3.45 billion. Midland provides a full range of commercial and consumer banking products and services and business equipment financing, merchant credit card services, trust and investment management, insurance and financial planning services. For additional information, visit https://www.midlandsb.com/ or https://www.linkedin.com/company/midland-states-bank.

CONTACTS:
Douglas J. Tucker, Sr. V.P., Corporate Counsel, at dtucker@midlandsb.com or (217) 342-7321

FAQ

What is the dividend amount for MSBI?

The dividend amount for MSBI is $0.29 per share.

When is the dividend payable for Midland States Bancorp?

The dividend is payable on November 21, 2022.

What are the record dates for the dividends declared by MSBI?

The record date for the $0.29 dividend is November 14, 2022, and for the Series A preferred stock dividend, it is December 15, 2022.

What is the amount of the preferred stock dividend for MSBI?

The preferred stock dividend is $27.56 per share or $0.689 per depositary share.

How does the new dividend affect MSBI shareholders?

The new dividend positively impacts MSBI shareholders by providing additional income.