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MainStreet Bancshares, Inc. (NASDAQ:MNSB), a Virginia-based commercial bank with a market capitalization of $124 million, announced today a quarterly cash dividend for its Series A Preferred Stock. According to InvestingPro analysis, while the company’s net income is expected to grow this year, the stock appears overvalued at current levels. The company’s Board of Directors declared the dividend on February 27, 2025, for shareholders of record as of the close of business on March 14, 2025.
The dividend, amounting to approximately $0.47 per Depositary Share or $18.75 per share of Series A Preferred Stock, is set to be distributed on March 30, 2025. The company currently offers a dividend yield of 2.41% on its common stock. This declaration follows the issuance of 1,150,000 depositary shares on September 15 and 25, 2020, which represent a 1/40th ownership interest in a share of Series A Preferred Stock, with an aggregate liquidation preference of $28,750,000.
MainStreet Bancshares’ Depositary Shares are publicly traded on the Nasdaq Capital Market under the ticker symbol "MNSBP." Trading at $16.88, analysts have set a target price of $21.25, suggesting potential upside. InvestingPro subscribers can access additional insights, with 2 more exclusive ProTips available. The company has indicated that future dividends for the Series A Preferred Stock and associated Depositary Shares, if declared by the Board of Directors, will be payable quarterly in arrears on the last day of March, June, September, and December each year. The next earnings announcement is scheduled for April 22, 2025.
The information provided in this announcement is based on a press release statement and has not been filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor is it subject to the liabilities of that section. It is also not to be deemed incorporated by reference in any filing under the Securities Exchange Act or the Securities Act of 1933, unless specifically referenced in such filing.
In other recent news, MainStreet Bancshares announced a cash dividend of $0.10 per share, payable on February 17, 2025, to shareholders of record as of February 10, 2025. This decision reflects the company’s ongoing commitment to providing shareholder value, although future dividends will depend on the company’s financial health and operational results. Additionally, MainStreet Bancshares has rescheduled its quarterly earnings conference call to January 27, 2025, where it will discuss its fourth-quarter and year-end financial performance. Initially set for an earlier date, this webcast aims to provide investors with insights into the company’s recent activities and financial standing.
The company’s decision to reschedule was formalized in a regulatory filing with the SEC, emphasizing its dedication to transparency and timely communication with stakeholders. MainStreet Bancshares had initially planned to hold the earnings call on January 21, 2025, but the new date allows for a more comprehensive discussion of the company’s financial results. Investors interested in the webcast are encouraged to contact Hattie Lester for further details. These developments highlight MainStreet Bancshares’ focus on maintaining open communication with investors and ensuring they are well-informed about the company’s financial health and strategic direction.
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