Tectonic Financial Declares Dividends on Preferred Stock and Common Stock

On October 25, 2024, Tectonic Financial, Inc. (NASDAQ: TECTP) announced in a recent 8-K filing that its Board of Directors has declared dividends for its shareholders.

The Board of Directors declared a quarterly cash dividend of $0.3092146 per share on the Company’s outstanding shares of 9.00% Fixed-to-Floating Rate Series B Noncumulative Perpetual Preferred Stock. This dividend applies to the period from August 15, 2024, to November 15, 2024, and will be payable on November 15, 2024, to shareholders of record as of November 5, 2024.

Additionally, the Board declared a cash dividend of $0.10 per share on the Company’s outstanding common stock. This dividend will also be payable on November 15, 2024, to shareholders of record as of November 5, 2024.

Tectonic Financial is classified as an emerging growth company under the rules defined in the Securities Act of 1933. The company has chosen not to use the extended transition period for complying with any new or revised financial accounting standards as provided under Section 13(a) of the Exchange Act.

These dividend declarations reflect Tectonic Financial’s commitment to shareholder value and financial well-being. Investors can look forward to receiving these dividends in November.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Tectonic Financial’s 8K filing here.

Tectonic Financial Company Profile

Tectonic Financial, Inc, a financial holding company, provides banking and financial products and services to high net worth individuals, small businesses, and institutions in the United States. It offers commercial and consumer banking services, such as demand deposits, regular savings accounts, money market accounts, individual retirement accounts, and certificates of deposit; commercial and real estate loans, dental loans, commercial real estate, construction loans, and consumer installment loans; and wealth management and trust services.