Tectonic Financial, Inc. (NASDAQ:TECTP) Plans $0.28 Quarterly Dividend

Tectonic Financial, Inc. (NASDAQ:TECTP) announced a quarterly dividend on Tuesday, January 27th. Investors of record on Friday, February 6th will be given a dividend of 0.2769 per share on Tuesday, February 17th. This represents a c) dividend on an annualized basis and a yield of 10.8%. The ex-dividend date of this dividend is Friday, February 6th.

Tectonic Financial Stock Performance

Shares of TECTP stock remained flat at $10.24 during mid-day trading on Wednesday. 1,254 shares of the stock were exchanged, compared to its average volume of 14,831. Tectonic Financial has a fifty-two week low of $9.83 and a fifty-two week high of $12.08. The firm’s 50-day moving average is $10.76 and its 200 day moving average is $10.84.

Tectonic Financial Company Profile

Tectonic Financial (NASDAQ: TECTP) is a special purpose acquisition company (SPAC) formed to identify, acquire and combine with one or more businesses in the financial technology sector. Incorporated in Delaware, the company completed its initial public offering on the Nasdaq exchange, where it raised capital to pursue merger opportunities with innovative fintech enterprises. As a blank‐check vehicle, Tectonic Financial has no commercial operations of its own but instead works through its management team and board advisors to source target companies that exhibit strong growth potential, scalable business models and strategic alignment with evolving digital finance trends.

The company’s main activities involve conducting rigorous due diligence on prospective targets, structuring transactions and managing the business combination process under the rules governing SPACs in the United States.