Merchants Bancorp (NASDAQ:MBINO) Announces Dividend Increase – $0.59 Per Share

Merchants Bancorp (NASDAQ:MBINO) declared a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Investors of record on Friday, December 13th will be given a dividend of 0.59 per share on Thursday, January 2nd. This represents a $2.36 dividend on an annualized basis and a yield of 9.29%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Merchants Bancorp’s previous quarterly dividend of $0.38.

Merchants Bancorp Price Performance

Shares of MBINO traded up $0.01 during midday trading on Friday, reaching $25.40. The stock had a trading volume of 10,855 shares, compared to its average volume of 11,576. The company’s 50-day moving average is $25.19 and its 200 day moving average is $24.96. Merchants Bancorp has a 12-month low of $21.80 and a 12-month high of $25.42.

Merchants Bancorp Company Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.