First Guaranty Bancshares, Inc. (NASDAQ:FGBI) has declared a quarterly cash dividend for its Series A Preferred Stock, according to an 8-K filing with the Securities and Exchange Commission. Holders of the Depositary Shares, each representing a 1/40th interest in the 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, will receive a distribution of $0.421875 per share.
The dividend is scheduled for payment on September 3, 2024, to shareholders of record as of August 15, 2024. The underlying Series A Preferred Stock dividend amounts to $16.875 per share. The payment will be made to the depositary of the Series A Preferred Stock, which will then distribute the funds to the holders of the Depositary Shares.
The announcement made by the First Guaranty board on July 18, 2024, signifies the company's commitment to providing returns to its preferred shareholders. The Louisiana-based federally chartered savings institution, with a central index key of 0001408534, has its principal executive offices located at 400 East Thomas Street, Hammond, Louisiana.
InvestingPro Insights
For investors eyeing First Guaranty Bancshares (NYSE:GNTY), Inc. (NASDAQ:FGBI), it's essential to note its commitment to shareholder returns, as evidenced by the recent dividend announcement. According to InvestingPro data, the company holds a market capitalization of $124.55 million and offers a robust dividend yield of 6.6%, which is particularly attractive for income-focused investors. Additionally, the P/E ratio stands at 19.72, reflecting investor sentiment on the company's earnings potential.
Among the InvestingPro Tips, it's highlighted that First Guaranty has consistently paid dividends for 19 consecutive years, which underscores its reliability as a dividend-paying stock. Moreover, analysts predict profitability for the company in the current year, reinforcing the positive outlook. For those interested in further insights, InvestingPro offers additional tips on First Guaranty Bancshares, which could be accessed with the use of coupon code PRONEWS24, granting up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
While the company has experienced a revenue decline of 16.04% over the last twelve months as of Q1 2024, the InvestingPro Fair Value estimate of $12.54 suggests potential upside from the previous close price of $9.69. For investors seeking comprehensive analysis and additional tips, there are 5 more available on InvestingPro, which can provide a deeper dive into First Guaranty Bancshares' financial health and future prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.