Texas Capital Bancshares, Inc. Amends Quarterly Dividend for Series B Preferred Stock

Rhea-AI Summary

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) announced a revised quarterly cash dividend of $16.2917 per share for its 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B. The dividend, equivalent to $0.4072917 per depositary share, includes an additional period from March 3 to March 15, 2021. This payment is due on June 15, 2021, to holders of record at the close of business on June 1, 2021. Texas Capital is a commercial bank based in Dallas, providing personalized financial services across Texas.

Positive

• Revised quarterly cash dividend increased to $16.2917 per share.
• Dividend reflects strong financial performance and shareholder value.

Negative

• None.

News Market Reaction – TCBI

-0.49%

-0.49% Session move

In the trading session that priced this news, TCBI declined 0.49%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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DALLAS, June 01, 2021 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, and its board of directors declared, in a release dated April 27, 2021, a quarterly cash dividend of $14.375 per share of the 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B (the “Series B Preferred Stock”), equivalent to $0.359375 per depositary share, each representing a 1/40^th interest in a share of the Series B Preferred Stock. The dividend amount is being amended to include the additional period from March 3, 2021, the Series B Preferred Stock original issue date, to March 15, 2021 in the dividend period. The revised cash dividend is $16.2917 per share, equivalent to $0.4072917 per depositary share. The depositary shares are traded on the NASDAQ under the symbol “TCBIO”. The Series B Preferred Stock dividend is payable on June 15, 2021, to holders of record at the close of business on June 1, 2021.

ABOUT TEXAS CAPITAL BANCSHARES, INC.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank, a commercial bank that delivers highly personalized financial services to businesses and entrepreneurs. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio.

FAQ

What is the quarterly dividend amount for TCBI?

The quarterly dividend for TCBI is $16.2917 per share.

When is the dividend for TCBI payable?

The dividend is payable on June 15, 2021.

What is the record date for the TCBI dividend?

The record date for the dividend is June 1, 2021.

What is the equivalent amount per depositary share for TCBI's dividend?

The equivalent amount per depositary share is $0.4072917.