Guided wave imaging with a distributed array of inexpensive transducers offers a fast and cost-efficient means for damage detection and localization in plate-like structures such as aircraft and spacecraft skins. As such, this technology is a natural choice for inclusion in condition-based maintenance and integrated structural health management programs. One of the implementation challenges results from the complex interaction of propagating ultrasonic waves with both the interrogation structure and potential defects or damage. For example, a guided ultrasonic wave interacts with a surface or sub-surface defect differently depending on the angle of incidence, defect size and orientation, excitation frequency, and guided wave mode. However, this complex interaction also provides a mechanism for guided wave imaging algorithms to perform damage characterization in addition to damage detection and localization. Damage characterization provides a mechanism to help discriminate actual damage (e.g. fatigue cracks) from benign changes, and can be used with crack propagation models to estimate remaining life. This work proposes the use of minimum variance imaging to perform damage detection, localization, and characterization. Scattering assumptions used to perform damage characterization are obtained through both analytical and finite element models. Experimental data from an in situ distributed array are used to demonstrate feasibility of this approach using a through-hole and two through-thickness notches of different orientations to simulate damage in an aluminum plate.