MetroCity Bankshares, Inc. Declares Quarterly Cash Dividend

Rhea-AI Summary

MetroCity Bankshares, Inc. (NASDAQ: MCBS) has declared a quarterly cash dividend of $0.18 per share on its common stock, scheduled for distribution on May 12, 2023. This dividend will be paid to shareholders recorded by May 3, 2023. The decision reflects the company's ongoing commitment to returning value to its investors, highlighting its financial stability and operational success.

MetroCity Bankshares operates 19 branches across multi-ethnic communities in multiple states, including Alabama, Florida, Georgia, New York, New Jersey, Texas, and Virginia. This diverse geographical presence may positively influence the bank's growth potential and revenue streams.

Positive

• Declared quarterly cash dividend of $0.18 per share, demonstrating ongoing commitment to shareholders.
• Diversified branch network across seven states potentially enhances revenue opportunities.

Negative

• None.

News Market Reaction – MCBS

+1.72%

1 alert

+1.72% News Effect

On the day this news was published, MCBS gained 1.72%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

ATLANTA, April 19, 2023 /PRNewswire/ -- MetroCity Bankshares, Inc. (NASDAQ: MCBS) announced today that its board of directors declared a quarterly cash dividend of $0.18 per share on its common stock. The cash dividend is payable on May 12, 2023 to shareholders of record as of May 3, 2023.

About MetroCity Bankshares, Inc.

MetroCity Bankshares, Inc. is a Georgia corporation and a bank holding company for its wholly-owned banking subsidiary, Metro City Bank, which is headquartered in the Atlanta metropolitan area. Metro City Bank currently operates 19 full-service branch locations in multi-ethnic communities in Alabama, Florida, Georgia, New York, New Jersey, Texas and Virginia. To learn more about Metro City Bank, visit www.metrocitybank.bank.

Contact Information
Farid Tan
770-455-4978
faridtan@metrocitybank.bank

Lucas Stewart
678-580-6414
lucasstewart@metrocitybank.bank

View original content to download multimedia:https://www.prnewswire.com/news-releases/metrocity-bankshares-inc-declares-quarterly-cash-dividend-301802282.html

SOURCE MetroCity Bankshares, Inc.

FAQ

What is the dividend amount declared by MetroCity Bankshares on April 19, 2023?

MetroCity Bankshares declared a quarterly cash dividend of $0.18 per share.

When will the dividend for MetroCity Bankshares be paid?

The dividend will be paid on May 12, 2023.

Who is eligible to receive the dividend from MetroCity Bankshares?

Shareholders of record as of May 3, 2023, are eligible to receive the dividend.

How does the dividend affect MetroCity Bankshares investors?

The declared dividend indicates the company's financial health and commitment to returning value to its investors.