Midland States Sets $0.4844 Dividend Per Series A Depositary Share

Midland States Bancorp, Inc. declared a $0.4844 cash dividend per Series A depositary share on Monday, Nov. 2, with holders of record Dec. 15 scheduled to receive payment Dec. 30.

The dividend applies to depositary shares (MSBIP) tied to the company’s 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. Each depositary share represents a 1/40th interest in a preferred share. Dividends are non-cumulative and payable when declared by the board.

The $0.4844 amount matches the dividend declared Aug. 4, which was payable Sept. 30. The preferred stock’s rate is 7.75% per year through Sept. 30, 2027. After that, the rate resets based on the five-year Treasury rate plus 4.713%.

The board also declared a $0.33 dividend per common share. That payment is scheduled for Nov. 20 to shareholders of record Nov. 13.