Midland States Bancorp, Inc. Announces Common Stock and Preferred Stock Dividends

Rhea-AI Summary

Midland States Bancorp (NASDAQ: MSBI) has announced quarterly dividends for both its common and preferred stock. The Board of Directors declared a $0.31 per share cash dividend on common stock, payable on August 23, 2024, to shareholders of record as of August 16, 2024. Additionally, a $0.4844 per depository share cash dividend was declared on the company's 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, payable on September 30, 2024, to stockholders of record as of September 16, 2024. This announcement demonstrates MSBI's commitment to providing returns to its shareholders through regular dividend payments.

Positive

• Consistent dividend payments indicate financial stability
• Dividend payments provide income for shareholders
• Maintaining dividends suggests company confidence in future performance

Negative

• None.

EFFINGHAM, Ill., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Midland States Bancorp, Inc. (NASDAQ: MSBI) announced today that its Board of Directors declared a quarterly cash dividend of $0.31 per share of its common stock. The dividend is payable on August 23, 2024 to all shareholders of record as of the close of business on August 16, 2024.

The Board of Directors also declared a cash dividend of $0.4844 per depository share on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable on September 30, 2024 to stockholders of record as of September 16, 2024.

About Midland States Bancorp, Inc.

Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of June 30, 2024, the Company had total assets of approximately $7.76 billion, and its Wealth Management Group had assets under administration of approximately $4.00 billion. The Company provides a full range of commercial and consumer banking products and services and business equipment financing, merchant credit card services, trust and investment management, insurance and financial planning services. For additional information, visit https://www.midlandsb.com/ or https://www.linkedin.com/company/midland-states-bank.

CONTACTS:
Douglas J. Tucker, Sr. V.P., Corporate Counsel, at dtucker@midlandsb.com or (217) 342-7321

FAQ

What is the dividend amount for Midland States Bancorp (MSBI) common stock?

Midland States Bancorp (MSBI) declared a quarterly cash dividend of $0.31 per share on its common stock.

When is the dividend payment date for MSBI common stock?

The dividend for MSBI common stock is payable on August 23, 2024.

What is the record date for MSBI's common stock dividend?

The record date for MSBI's common stock dividend is August 16, 2024.

What is the dividend amount for MSBI's preferred stock?

MSBI declared a cash dividend of $0.4844 per depository share on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A.

When will MSBI pay the preferred stock dividend?

The preferred stock dividend will be payable on September 30, 2024.