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MetroCity Bankshares, Inc. (NASDAQ:MCBS), a profitable regional bank with a market capitalization of $742 million and a compelling 3.5% dividend yield, announced Wednesday that its Board of Directors has approved the continuation of its share repurchase program. According to InvestingPro data, the company has maintained dividend payments for 10 consecutive years, demonstrating strong shareholder returns. According to a statement based on a Securities and Exchange Commission filing, the current program, which is set to expire on September 30, 2025, will be extended for another year.
Under the renewed authorization, the company may repurchase up to 923,976 shares of its outstanding common stock. The new repurchase window will begin on October 1, 2025, and is scheduled to conclude on September 30, 2026.
Repurchases may be conducted periodically in the open market or through privately negotiated transactions, in accordance with market conditions and applicable legal requirements. The company stated that the program will comply with all SEC regulations, including Rule 10b-18, and may utilize Rule 10b5-1 plans, which allow for stock repurchases during periods when the company might otherwise be restricted.
MetroCity Bankshares noted that the repurchase program may be modified, suspended, or discontinued at any time, and there is no obligation for the company to purchase any particular amount of shares.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, MetroCity Bankshares announced a quarterly cash dividend of $0.25 per share on its common stock. This dividend will be payable on August 8, 2025, to shareholders who are on record as of July 30, 2025. Additionally, MetroCity Bankshares has appointed David Shim to its Board of Directors, as well as to the board of its wholly owned subsidiary, Metro City Bank. Shim will also be a member of the Audit and Compliance Committee, the Information Technology Committee, and the Directors Loan Committee. These developments reflect MetroCity Bankshares’ ongoing efforts to enhance shareholder value and strengthen its leadership team.
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