Midland States boosts dividend 3.3% to 31c per share

Midland States Bancorp, announced that its Board of Directors declared a quarterly cash dividend of 31c per share of its common stock, an increase of 3.3% from the previous quarterly cash dividend of 30c per share. The dividend is payable on February 23 to all shareholders of record as of the close of business on February 16 . The Board of Directors also declared a cash dividend of $0.4844 per depository share on its 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable on April 1, 2024 to stockholders of record as of March 15, 2024. Jeffrey G. Ludwig, President and Chief Executive Officer of the Company, said, “This dividend declaration represents the 24th consecutive year that Midland States Bancorp has increased its quarterly cash dividend. We are pleased that our financial performance and prudent balance sheet management enables us to continuing increasing the amount of capital that we return to shareholders through our quarterly dividend while also retaining a sufficient amount of capital to increase our capital ratios to better support the continued growth of our franchise.”