Metropolitan Bank declares first dividend, approves $50M buyback plan

Metropolitan Bank Holding Corp. (NYSE: MCB) announced its board of directors declared a quarterly dividend of $0.15 per share, marking the company's first cash dividend since its initial public offering in 2017.

The dividend is payable on August 11, 2025 to shareholders of record at the close of business on July 28, 2025. The company stated it expects to continue distributing regular cash dividends subject to board discretion and applicable laws and regulations.

The board also approved a new share repurchase program authorizing the purchase of up to $50 million of the company's common stock. Metropolitan Bank used all available capacity under its previous repurchase program announced in March 2025.

The company may repurchase shares on the open market or through other means in accordance with securities laws, including under a Rule 10b5-1 plan. The timing and number of shares to be repurchased will depend on market conditions, share price, corporate and regulatory requirements, and other considerations.

The share repurchase plan has no expiration date and may be discontinued or suspended at any time without obligation to acquire any specific amount of stock.

"We are thrilled to announce this quarterly cash dividend, the first in our history as a publicly traded company," said Mark DeFazio, President and Chief Executive Officer. "Taken together with the new common stock repurchase authorization, today marks a significant milestone for MCB that not only reflects the strength of our balance sheet and our commitment to delivering total return to our investors, but also our confidence in our long-term growth trajectory."

Metropolitan Bank Holding Corp. is the parent company of Metropolitan Commercial Bank, a New York City-based commercial bank that provides banking services to individuals, small businesses, and corporate enterprises.

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