Midland States Bancorp, Inc. Increases Quarterly Cash Dividend to $0.29 Per Share

Rhea-AI Summary

Midland States Bancorp (NASDAQ: MSBI) has declared a quarterly cash dividend of $0.29 per share, marking a 3.6% increase from the previous dividend of $0.28. This is the 22nd consecutive year of dividend increases. The dividend will be payable on February 18, 2022, to shareholders of record as of February 11, 2022. CEO Jeffrey G. Ludwig highlighted the company's strong financial performance, allowing for increased shareholder returns while maintaining sufficient capital for growth.

Positive

• 22nd consecutive year of dividend increases.
• Dividend increase of 3.6%, boosting shareholder income.
• Strong financial performance supports organic and acquired growth.

Negative

• None.

22nd consecutive year that Midland States Bancorp has increased its quarterly cash dividend

EFFINGHAM, Ill., Feb. 01, 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, an increase of 3.6% from the previous quarterly cash dividend of $0.28 per share. The dividend is payable on or about February 18, 2022 to all shareholders of record as of the close of business on February 11, 2022.

Jeffrey G. Ludwig, President and Chief Executive Officer of the Company, said, “This dividend declaration represents the 22^nd consecutive year that Midland States Bancorp has increased its quarterly cash dividend. We are pleased that our financial performance enables us to increase the amount of capital that we return to shareholders through our quarterly dividend while also retaining a sufficient amount of capital to increase our capital ratios to better support continued organic and acquired growth.”

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 December 31, 2021, the Company had total assets of approximately $7.44 billion, and its Wealth Management Group had assets under administration of approximately $4.22 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 Midland States Bancorp (MSBI)?

The dividend amount for Midland States Bancorp (MSBI) is $0.29 per share.

When is the dividend payment date for MSBI?

The dividend payment date for MSBI is February 18, 2022.

How often does Midland States Bancorp pay dividends?

Midland States Bancorp pays dividends quarterly.

What does the increase in dividend signify for MSBI shareholders?

The increase in dividend signifies strong financial performance and a commitment to returning capital to shareholders.