Merchants Bancorp 7.00% Fixed-to-Floating Rate Series A Non-Cumulative Perpetual Preferred Stock
By: Tim McPartland,
Date Issued 3/21/2019
Shares Issued 2,000,000 Overallotment Shares 300,000
S&P Rating NR Moodys Rating NR
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Security Ticker Symbol MBINP OTC Temp Ticker MRBPP
Market Traded On NASDAQ
Dividend Payment Paid on the 1st of January, April, July and October beginning 7/1/2019
Quarterly Dividend .4375 Annual Dividend 1.75
On 4/1/2024 the Coupon Rate Floats. The rate will be 3 month libor plus a spread of 4.605%
Securities may be redeemed, at the issuers option, as early as 04/01/2024 for a redemption price of $25/share plus accrued dividends
Dividend Payment Will Likely be a Qualified Distributions
Maturity Date None
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Click here to find the offering Prospectus and Final Pricing Document
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Tim McPartland
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
