HAMMOND, LA – First Guaranty Bancshares, Inc. (NASDAQ:FGBI), a $135 million market cap regional bank trading at $10.79 per share, announced Monday that its Board of Directors has declared a quarterly cash dividend for holders of its depositary shares, with each share representing a 1/40th interest in its 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock.
According to InvestingPro, the company has maintained dividend payments for 19 consecutive years. The dividend is set at $0.421875 per depositary share, which equates to a $16.875 per share dividend on the underlying Series A Preferred Stock.
Shareholders of record as of February 14, 2025, will be eligible for the dividend, which is payable on March 3, 2025. The distribution to depositary shareholders will be conducted through the depositary for the Series A Preferred Stock, following the payment of the dividend to the depositary on the same day.
This financial event was reported in compliance with the Securities Exchange Act of 1934, as confirmed by Eric J. Dosch, Chief Financial Officer of First Guaranty Bancshares, Inc. The information is based on a press release statement.
In other recent news, First Guaranty Bancshares continues to make strategic moves to bolster its financial standing. The company has announced the election of Mr. Bruce McAnally to its Board of Directors, adding his wealth of experience to the leadership team. In line with its commitment to shareholders, First Guaranty Bancshares has maintained consistent dividend payments, declaring a quarterly cash dividend for both its common stock and preferred stock shareholders.
The company also revealed a strategic shift involving a staff reduction of 71 employees, aimed at decreasing annual pre-tax noninterest expenses by approximately $12 million. Additionally, First Guaranty Bancshares completed a sale-leaseback transaction for two branches and part of its headquarters, resulting in a pre-tax gain of about $13.2 million.
On a financial note, the company reported an increase in total assets to $3.6 billion, with total loans rising by 3.1% to $2.8 billion. These recent developments provide investors with a snapshot of First Guaranty Bancshares' current financial health and strategic direction.
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