MainStreet Bancshares Announces Cash Dividend Declaration for Preferred Stock

MainStreet Bancshares, Inc., a company listed on the Nasdaq Capital Market under the symbol “MNSB,” declared a quarterly cash dividend on its outstanding 7.50% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock. The declaration was announced by the Board of Directors on November 22, 2024.

The company had issued an aggregate of 1,150,000 depositary shares, with each share representing a 1/40th ownership interest in a share of the Series A Preferred Stock. These Depositary Shares hold a liquidation preference of $1,000 per share of Series A Preferred Stock, equivalent to $25 per Depositary Share, amounting to an aggregate liquidation preference of $28,750,000.

The declared cash dividend comes to approximately $0.47 per Depositary Share or $18.75 per share of Series A Preferred Stock outstanding. Shareholders of record as of December 13, 2024, will receive the cash dividend on December 30, 2024. Future dividend payments on the Series A Preferred Stock and associated Depositary Shares, when and if declared by the Board of Directors, will be paid quarterly on March 30, June 30, September 30, and December 30 of each year.

The Depositary Shares of MainStreet Bancshares trade on the Nasdaq Capital Market under the symbol “MNSBP.” The information related to the cash dividend declaration is not filed for the purposes of Section 18 of the Securities Exchange Act of 1934, nor is it subject to the liabilities of that Section or incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, except as explicitly referred to in such filings.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read MainStreet Bancshares’s 8K filing here.

MainStreet Bancshares Company Profile

MainStreet Bancshares, Inc operates as the bank holding company for MainStreet Bank that provides various banking products and services for individuals, small to medium-sized businesses, and professional service organizations. The company offers demand, NOW, money market, savings, and sweep accounts, as well as certificates of deposit; business and consumer checking, interest-bearing checking, business account analysis, and other depository services; and cash management, wire transfer, check imaging, bill pay, remote deposit capture, and courier services.