Level One Bancorp Announces Quarterly Preferred Stock Cash Dividend

Rhea-AI Summary

Level One Bancorp, Inc. (Nasdaq: LEVL) 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, 2022, to shareholders of record by January 31, 2022. As of September 30, 2021, the company reported assets of approximately $2.54 billion and operates 16 banking centers across Southeast and West Michigan.

Positive

• Quarterly cash dividend of $46.88 per share enhances income for shareholders.
• Company demonstrates confidence with the declaration of the dividend.

Negative

• None.

News Market Reaction – LEVL

-2.55%

-2.55% Session move

In the trading session that priced this news, LEVL declined 2.55%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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FARMINGTON HILLS, Mich., Jan. 19, 2022 (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, 2022, to shareholders of record at the close of business on January 31, 2022.

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 $2.54 billion as of September 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 for Level One Bancorp (LEVL)?

Level One Bancorp has declared a dividend of $46.88 per share on its Non-Cumulative Preferred Stock, Series B.

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

The dividend is payable on February 15, 2022.

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

The record date for the dividend payment is January 31, 2022.

What is the significance of the declared dividend for Level One Bancorp (LEVL) shareholders?

The declared dividend provides a direct income stream for shareholders and indicates company confidence in its financial stability.