Third Coast Bancshares Declares $17.0625 Quarterly Dividend on 6.75% Series A Preferred Stock
Third Coast Bancshares, Inc. (NYSE & NYSE Texas: TCBX) declared a quarterly cash dividend of $17.0625 per share on its 6.75% Series A Convertible Non-Cumulative Preferred Stock, the Houston-based holding company announced June 18, 2026. The Board of Directors approved the distribution, maintaining the company's quarterly preferred obligations to Series A holders.
Key takeaways
- Third Coast Bancshares declared a quarterly cash dividend of $17.0625 per share on its 6.75% Series A Convertible Non-Cumulative Preferred Stock, announced June 18, 2026.
- The dividend was approved by the company's Board of Directors and covers the current quarter for Series A holders.
- Third Coast Bancshares is the Houston-based holding company for Third Coast Bank and trades under ticker TCBX on the NYSE and NYSE Texas.
- The 'non-cumulative' feature means any suspended payment does not accrue as a liability owed to preferred holders, placing more risk on holders than cumulative instruments.
- The record date, payment date, and total shares outstanding were not disclosed in the available release.
Third Coast Bancshares, Inc. (NYSE & NYSE Texas: TCBX) declared a quarterly cash dividend of $17.0625 per share on its 6.75% Series A Convertible Non-Cumulative Preferred Stock, the Houston-based holding company announced June 18, 2026. The Board of Directors approved the distribution, maintaining the company's quarterly preferred obligations to Series A holders.
What the Instrument Says
Three descriptors in the stock's full name define how it works. The 6.75% rate is the coupon, and the $17.0625 quarterly figure flows from that rate. "Convertible" means the preferred shares can become another class of equity under conditions set in the instrument's terms. "Non-cumulative" carries a specific burden-shifting effect: if the company were to suspend a payment, the missed amount does not accrue as a liability owed to preferred holders — that quarterly income simply does not carry forward as a claim.
That structure places more risk on holders than cumulative preferred instruments do, while giving the issuer more flexibility over its capital. Preferred stock sits in the capital structure between common equity and debt, a position that shapes the income profile for holders and their standing relative to other classes of claims.
Third Coast Bancshares and Third Coast Bank
Third Coast Bancshares is the Houston-based holding company for Third Coast Bank. The company lists under ticker TCBX on two exchanges: the NYSE and NYSE Texas. The Board's June 18 declaration covers the Series A issue and delivers $17.0625 per share to each holder of the 6.75% preferred for the current quarter.
Note: This article is based on the company's June 18, 2026 announcement. Additional terms — including record date, payment date, and total shares outstanding — were not disclosed in the available release.
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Filed by the macro desk of MarketPR on June 20, 2026. Source: prnewswire.com. Indicative figures are not investment advice.