Merchants Bancorp (NASDAQ:MBINN) Announces Quarterly Dividend of $0.38

Merchants Bancorp (NASDAQ:MBINNGet Rating) announced a quarterly dividend on Monday, May 23rd, Wall Street Journal reports. Stockholders of record on Wednesday, June 15th will be given a dividend of 0.375 per share on Friday, July 1st. This represents a $1.50 annualized dividend and a dividend yield of 6.54%. The ex-dividend date is Tuesday, June 14th.

Shares of MBINN stock traded down $0.19 during trading hours on Monday, hitting $22.94. The company’s stock had a trading volume of 8,078 shares, compared to its average volume of 12,488. Merchants Bancorp has a 12-month low of $22.51 and a 12-month high of $29.37.

In other Merchants Bancorp news, CEO Michael R. Dury acquired 4,500 shares of the company’s stock in a transaction dated Friday, May 13th. The shares were acquired at an average cost of $23.26 per share, with a total value of $104,670.00. Following the acquisition, the chief executive officer now directly owns 93,260 shares of the company’s stock, valued at $2,169,227.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

About Merchants Bancorp (Get Rating)

Merchants Bancorp operates as the diversified bank holding company in the United States. The company operates through Multi-family Mortgage Banking, Mortgage Warehousing, and Banking segments. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities.

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