Merchants Bancorp to redeem Series B Preferred Stock on Jan 2, 2025 at $25/share; declares initial Series E dividend

Merchants Bancorp

All outstanding Series B Preferred (MBINO) to be redeemed on Jan 2, 2025 at $25.00 per share; uses cash on hand.
Series B preferred had rate reset to 9.42% as of Oct 1, 2024; delisting from Nasdaq expected Jan 2, 2025.
Board declared initial quarterly dividend on Series E Preferred (MBINL) of $7.84/share ($0.196/depositary share).
Dividend payable Jan 2, 2025 to holders of record Dec 13, 2024.
Redemption price excludes previously declared $0.59/share dividend paid separately on Jan 2, 2025.

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