Texas Capital Bancshares, Inc. Announces Quarterly Dividend for Preferred Stock

Rhea-AI Summary

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has declared a cash dividend of $14.375 per share for its 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B. This amounts to $0.359375 per depositary share, representing a 1/40th interest in a share of the Series B Preferred Stock. The dividend is payable on December 15, 2022, to shareholders of record as of December 1, 2022. Texas Capital Bancshares is a member of the Russell 2000 Index and S&P MidCap 400, providing a range of financial services.

Positive

• Declaration of cash dividend of $14.375 per share boosts shareholder confidence.
• Dividend payment indicates strong financial health and commitment to shareholders.

Negative

• None.

DALLAS, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, and its board of directors declared a cash dividend of $14.375 per share of the 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B (the “Series B Preferred Stock”), equivalent to $0.359375 per depositary share, each representing a 1/40th interest in a share of the Series B Preferred Stock. The depositary shares are traded on the NASDAQ under the symbol “TCBIO.” The Series B Preferred Stock dividend is payable on December 15, 2022, to holders of record at the close of business on December 1, 2022.

About Texas Capital Bancshares, Inc.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI), a member of the Russell 2000 Index and the S&P MidCap 400, is the parent company of Texas Capital Bank, a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio, and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital Bank has established commercial banking, consumer banking, investment banking and wealth management capabilities.

FAQ

What is the amount of the dividend declared by Texas Capital Bancshares (TCBI)?

Texas Capital Bancshares declared a dividend of $14.375 per share for its Series B Preferred Stock.

When is the dividend for TCBI payable?

The dividend is payable on December 15, 2022.

What is the record date for the dividend payment of TCBI?

The record date for the dividend payment is December 1, 2022.

What type of stock is the Series B Preferred Stock of TCBI?

The Series B Preferred Stock is a 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock.

What does the dividend amount represent per depositary share for TCBI?

The dividend amounts to $0.359375 per depositary share, each representing a 1/40th interest in a share of the Series B Preferred Stock.