Business Context and Reporting Period
MainStreet Bancshares, Inc. (MNSB) filed a Form 8-K on August 18, 2021, reporting a corporate action regarding its preferred stock. The company is incorporated in Virginia and trades on the Nasdaq Stock Market.
Key Financial Metrics
This filing does not report consolidated revenue, profit, cash flow, or operating margins. The financial data provided is specific to the Series A Preferred Stock dividend declaration:
- Dividend Declaration: Quarterly cash dividend declared on August 18, 2021.
- Dividend Amount: Approximately $0.47 per Depositary Share (equivalent to $18.75 per share of Series A Preferred Stock).
- Payment Date: September 30, 2021.
- Record Date: September 15, 2021.
- Outstanding Preferred Stock: 1,150,000 Depositary Shares (representing 28,750 shares of Series A Preferred Stock) with an aggregate liquidation preference of $28,750,000.
Material Changes
The filing reports no material changes to the company's financial condition or operations compared to prior periods. The document solely announces the scheduled quarterly dividend payment for the Series A Preferred Stock, which was issued in September 2020.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or discussion of new risks. It confirms that future dividends on the Series A Preferred Stock are payable quarterly in arrears on March 30, June 30, September 30, and December 30, subject to declaration by the Board of Directors.
Investor Verification Checklist
- Verify the record date of September 15, 2021, to confirm eligibility for the dividend.
- Confirm the payment date of September 30, 2021, for cash flow planning.
- Review the Nasdaq Capital Market listing for Depositary Shares under symbol "MNSBP" for trading activity.
- Note that the dividend is non-cumulative; if not declared in future quarters, it is not owed.