Merchants Bancorp Declares Quarterly Dividends

Merchants Bancorp (NASDAQ: MBIN) has declared its quarterly cash dividends for the second quarter of 2024. The dividends, payable on July 1, 2024, to shareholders of record on June 14, 2024, are as follows:

  1. A dividend of $0.09 per share on the company’s outstanding shares of its common stock (NASDAQ: MBIN).
  2. A dividend of $15.00 per share (equivalent to $0.375 per depositary share) on the 6% Series B preferred stock (NASDAQ: MBINO).
  3. A dividend of $15.00 per share (equivalent to $0.375 per depositary share) on the 6% Series C preferred stock (NASDAQ: MBINN).
  4. A dividend of $20.625 per share (equivalent to $0.5156 per depositary share) on the 8.25% Series D preferred stock (NASDAQ: MBINM).

Merchants Bancorp, a diversified bank holding company headquartered in Carmel, Indiana, reported total assets of $17.8 billion and deposits of $14.0 billion as of March 31, 2024. The company operates multiple segments, including multi-family mortgage banking, mortgage warehousing, and traditional community banking.

It's worth noting that the dividends for the preferred stocks have remained unchanged from the previous period, indicating stability in the company's dividend policy. Today the company's shares have moved -0.4% to a price of $42.65. For the full picture, make sure to review Merchants Bancorp's 8-K report.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.