Merchants Bancorp (NASDAQ:MBINN) to Issue $0.38 Quarterly Dividend

Merchants Bancorp (NASDAQ:MBINN) announced a quarterly dividend on Thursday, February 19th. Shareholders of record on Friday, March 13th will be given a dividend of 0.375 per share on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 7.4%. The ex-dividend date is Friday, March 13th.

Merchants Bancorp Stock Up 0.5%

Shares of NASDAQ MBINN traded up $0.10 during midday trading on Friday, reaching $20.15. 2,926 shares of the stock traded hands, compared to its average volume of 14,180. The company’s 50 day moving average is $19.47 and its 200 day moving average is $19.97. Merchants Bancorp has a one year low of $18.27 and a one year high of $22.30.

About Merchants Bancorp

Merchants Bancorp (NASDAQ: MBINN) is a bank holding company headquartered in Buffalo, New York. Through its subsidiary, Merchants Bank, the company provides a comprehensive suite of commercial and consumer banking products across Western New York. Its branch network serves individuals, small businesses and institutional clients with personalized banking solutions.

The company’s core offerings include deposit products such as checking, savings and certificates of deposit, alongside a portfolio of lending products that encompasses commercial and industrial loans, commercial real estate financing, residential mortgages and consumer credit lines.