Merchants Bancorp (NASDAQ:MBINO) Increases Dividend to $0.59 Per Share

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

Merchants Bancorp Stock Up 0.0 %

Merchants Bancorp stock traded up $0.01 during mid-day trading on Friday, reaching $25.40. 10,855 shares of the company traded hands, compared to its average volume of 11,576. Merchants Bancorp has a 52-week low of $21.80 and a 52-week high of $25.42. The firm’s 50 day moving average price is $25.19 and its 200 day moving average price is $24.96.

About Merchants Bancorp

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.