Merchants Bancorp current report, 20 May 2021

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Merchants Bancorp Form 8-K Summary

Business Context and Reporting Period

This Current Report on Form 8-K was filed by Merchants Bancorp on May 20, 2021. The filing primarily reports on the results of the Company's Annual Meeting of Shareholders held on the same date and the declaration of quarterly cash dividends by the Board of Directors.

Key Financial Metrics

The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial data disclosed relates to dividend declarations:

  • Common Stock: $0.09 per share.
  • 7% Series A Preferred Stock: $0.4375 per share.
  • 6% Series B Preferred Stock: $15.00 per share ($0.375 per depositary share).
  • 6% Series C Preferred Stock (Issued March 23, 2021): $16.3366 per share ($0.4084 per depositary share).
  • 6% Series C Preferred Stock (Issued May 6, 2021): $9.1685 per share ($0.2292 per depositary share).

Dividends are payable on July 1, 2021, to shareholders of record on June 15, 2021.

Material Changes and Corporate Actions

Shareholder Vote Results:

  • Director Elections: All nine nominees were elected to the Board of Directors. While all received majority support, vote counts varied, with Sue Anne Gilroy receiving the highest number of withheld votes (2,766,292) and Michael F. Petrie receiving the fewest (369,414).
  • Auditor Ratification: Shareholders overwhelmingly ratified the appointment of BKD, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2021, with 26,238,708 votes for and only 162 against.

Guidance, Outlook, and Risks

The filing contains no management commentary regarding future guidance, outlook, risks, or contingencies. It is a procedural report confirming corporate governance actions and dividend declarations.

Key Facts for Investor Verification

  • Verify the record date (June 15, 2021) and payment date (July 1, 2021) for the declared dividends.
  • Confirm the specific vote counts for director nominees, particularly those with higher withheld vote percentages.
  • Review the attached press release (Exhibit 99.1) for any additional context regarding the dividend declaration.
  • Note that this filing does not contain updated financial performance data; refer to the most recent 10-Q or 10-K for revenue and earnings metrics.