Triumph Financial Announces Dividend for 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock

Rhea-AI Summary

Triumph Financial announced a quarterly dividend for its 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock.

The dividend, amounting to $17.81 per share, will be distributed to holders of depositary shares (NASDAQ: TFINP), each representing a 1/40th interest in the preferred stock. Holders will receive $0.44525 per depositary share.

The dividend is payable on June 30, 2024, to shareholders of record as of June 15, 2024.

Positive

• Quarterly dividend of $17.81 per share on Series C preferred stock announced.
• Dividend distribution amounts to $0.44525 per depositary share.
• Payable date set for June 30, 2024, ensuring timely returns for shareholders.
• Dividend aligned with a 7.125% fixed rate, providing stable income.

Negative

• Non-cumulative nature of the preferred stock means missed dividends are not recovered.
• Dividend only benefits holders of Series C preferred stock, not common shareholders.

DALLAS, May 31, 2024 (GLOBE NEWSWIRE) -- Triumph Financial, Inc. (the “Company”) (Nasdaq: TFIN) today announced that the Company’s Board of Directors declared a quarterly cash dividend of $17.81 per share on its 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock, represented by depositary shares (NASDAQ: TFINP), each representing a 1/40th interest in a share of preferred stock. Holders of depositary shares will receive $0.44525 per depositary share. The dividend is payable on June 30, 2024, to holders of record at the close of business on June 15, 2024.

About Triumph Financial

Triumph Financial, Inc. (Nasdaq: TFIN) is a financial holding company focused on payments, factoring and banking. Headquartered in Dallas, Texas, its diversified portfolio of brands includes TriumphPay, Triumph and TBK Bank. www.tfin.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. Triumph Financials' expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" and the forward-looking statement disclosure contained in the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 13, 2024. Forward-looking statements speak only as of the date made, and Triumph Financial undertakes no duty to update the information.

Source: Triumph Financial, Inc.

Investor Relations:
Luke Wyse
Senior Vice President, Head of Investor Relations
lwyse@tfin.com
214-365-6936

Media Contact:
Amanda Tavackoli
Senior Vice President, Director of Corporate Communication
atavackoli@tfin.com
214-365-6930

FAQ

What dividend did Triumph Financial announce for the Series C preferred stock?

Triumph Financial announced a quarterly dividend of $17.81 per share on its 7.125% Series C Fixed-Rate Non-Cumulative Perpetual Preferred Stock.

How much will holders of depositary shares receive?

Holders of depositary shares will receive $0.44525 per depositary share.

When is the Triumph Financial dividend payable?

The dividend is payable on June 30, 2024.

What is the record date for Triumph Financial's Series C preferred stock dividend?

The record date for the dividend is June 15, 2024.

What is the dividend yield for Triumph Financial’s Series C preferred stock?

The dividend yield is based on a 7.125% fixed rate.