Mercantile Bank (MBWM) Declares $0.22 Quarterly Dividend; 2.5% Yield

Mercantile Bank (NASDAQ: MBWM) declared a quarterly dividend of $0.22 per share, or $0.88 annualized.

The dividend will be payable on June 20, 2018, to stockholders of record on June 8, 2018, with an ex-dividend date of June 7, 2018.

The annual yield on the dividend is 2.5 percent.

"We are very pleased that our sound financial condition has enabled us to once again reward shareholders with a competitive dividend yield and positioned us to meet growth initiatives," said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. "As depicted by the sustained cash dividend program, we remain committed to providing shareholders with a meaningful cash return and confident that our strong operating results will continue in future periods. We expect future cash dividend payouts to represent between 35 percent and 40 percent of net income."

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

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