Texas Capital Bancshares, Inc. Announces Quarterly Dividend for Preferred Stock

Rhea-AI Summary

Texas Capital Bancshares (NASDAQ: TCBI), parent company of Texas Capital Bank, has announced a quarterly dividend for its Series B Preferred Stock. The board of directors declared a cash dividend of $14.375 per share for the 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B. This is equivalent to $0.359375 per depositary share, each representing a 1/40th interest in a share of the Series B Preferred Stock.

The depositary shares are traded on NASDAQ under the symbol "TCBIO". The dividend is scheduled to be paid on September 16, 2024, to stockholders of record as of the close of business on September 3, 2024. This announcement demonstrates Texas Capital Bancshares' commitment to providing returns to its preferred shareholders.

Positive

• Consistent dividend payment indicates financial stability
• Dividend of $14.375 per share ($0.359375 per depositary share) provides income for preferred shareholders

Negative

• None.

News Market Reaction

+0.91%

1 alert

+0.91% News Effect

On the day this news was published, TCBI gained 0.91%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

DALLAS, July 22, 2024 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, and its board of directors declared a 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 1/40th interest in a share of the Series B Preferred Stock. The depositary shares are traded on the NASDAQ under the symbol “TCBIO.” The Series B Preferred Stock dividend is payable on September 16, 2024, to holders of record at the close of business on September 3, 2024.

ABOUT TEXAS CAPITAL BANCSHARES, INC.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, the parent company of Texas Capital Bank d/b/a Texas Capital, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, building a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital established commercial banking, consumer banking, investment banking and wealth management capabilities. All services are subject to applicable laws, regulations, and service terms. Member FDIC. For more information, please visit www.texascapital.com.

FAQ

What is the dividend amount for Texas Capital Bancshares' (TCBI) Series B Preferred Stock?

Texas Capital Bancshares (TCBI) declared a cash dividend of $14.375 per share for its Series B Preferred Stock, equivalent to $0.359375 per depositary share.

When is the dividend payment date for TCBI's Series B Preferred Stock?

The dividend for TCBI's Series B Preferred Stock is payable on September 16, 2024.

What is the record date for TCBI's preferred stock dividend announced in July 2024?

The record date for TCBI's preferred stock dividend is September 3, 2024, for holders of record at the close of business.

What is the trading symbol for Texas Capital Bancshares' (TCBI) depositary shares on NASDAQ?

The depositary shares of Texas Capital Bancshares' Series B Preferred Stock are traded on NASDAQ under the symbol 'TCBIO'.