Level One Bancorp Announces Quarterly Preferred Stock Cash Dividend

Rhea-AI Summary

Level One Bancorp has declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Preferred Stock, Series B. Each depositary share will receive $0.4688, payable on February 15, 2021, to shareholders of record by January 31, 2021. As of September 30, 2020, the bank holds approximately $2.45 billion in assets and operates sixteen banking centers in Southeast and West Michigan.

Positive

• Quarterly cash dividend of $46.88 per share declared.
• Strong financial position with assets of approximately $2.45 billion.

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• None.

FARMINGTON HILLS, Mich., Jan. 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 February 15, 2021, to shareholders of record at the close of business on January 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 $2.45 billion as of September 30, 2020. 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 for Level One Bancorp (LEVL)?

The dividend amount is $46.88 per share.

When is the Level One Bancorp (LEVL) dividend payable?

The dividend is payable on February 15, 2021.

What is the record date for the Level One Bancorp (LEVL) dividend?

The record date is January 31, 2021.

What percentage is the preferred stock dividend for Level One Bancorp (LEVL)?

The preferred stock dividend is 7.50%.