Level One Bancorp Announces Quarterly Preferred Stock Cash Dividend

Rhea-AI Summary

Level One Bancorp, Inc. (Nasdaq: LEVL) declared a quarterly cash dividend of $0.4688 per depositary share on its 7.50% Non-Cumulative Preferred Stock, Series B. This dividend is payable on November 15, 2021, to shareholders of record as of October 31, 2021. Level One Bancorp, with assets of approximately $2.51 billion as of June 30, 2021, operates sixteen banking centers across Southeast and West Michigan.

Positive

• Quarterly cash dividend of $0.4688 per depositary share.
• Demonstrates confidence in sustaining shareholder returns.

Negative

• None.

News Market Reaction

+1.36%

1 alert

+1.36% News Effect

On the day this news was published, LEVL gained 1.36%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

FARMINGTON HILLS, Mich., Oct. 20, 2021 (GLOBE NEWSWIRE) -- Level One Bancorp, Inc. (“Level One”) (Nasdaq: LEVL) announced that the Board of Directors of Level One declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Preferred Stock, Series B, represented by depositary shares (Nasdaq: LEVLP) each representing a 1/100th interest in a share of the Series B preferred stock. Holders of depositary shares will receive $0.4688 per depositary share. The dividend is payable on November 15, 2021, to shareholders of record at the close of business on October 31, 2021.

Level One Bancorp, Inc. is the holding company for Level One Bank, a full-service commercial and consumer bank headquartered in Michigan with assets of approximately $2.51 billion as of June 30, 2021. The Company operates sixteen banking centers throughout Southeast Michigan and West Michigan. For more information, visit www.levelonebank.com.

FAQ

What is the dividend amount declared by Level One Bancorp?

Level One Bancorp declared a quarterly cash dividend of $0.4688 per depositary share.

When is the dividend payable to shareholders?

The dividend is payable on November 15, 2021.

What is the record date for the dividend payment?

The record date for the dividend payment is October 31, 2021.

What type of preferred stock does the dividend pertain to?

The dividend pertains to the 7.50% Non-Cumulative Preferred Stock, Series B.