Mercantile Bank (MBWM) Raises Quarterly Dividend 15.8% to $0.22; 2.3% Yield

Mercantile Bank (NASDAQ: MBWM) declared a quarterly dividend of $0.22 per share, or $0.88 annualized. This is a 15.8% increase from the prior dividend of $0.19.

The dividend will be payable on March 21, 2018, to stockholders of record on March 9, 2018, with an ex-dividend date of March 8, 2018.

The annual yield on the dividend is 2.3 percent.

"We are very pleased that our ongoing financial strength has positioned us to reward shareholders with an increased quarterly cash dividend," said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. "The higher dividend reflects our desire to maintain the cash dividend payout between 35 percent and 40 percent of net income, exhibiting our commitment to provide a meaningful cash return to shareholders, and the confidence of our Board of Directors and executive management team in Mercantile's ability to produce strong operating results in future periods."

For a dividend history and other dividend-related data on Mercantile Bank (MBWM) click here.

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