Mercantile Bank (MBWM) Raises Quarterly Dividend 9.1% to $0.24; 2.6% Yield

Mercantile Bank (NASDAQ: MBWM) declared a quarterly dividend of $0.24 per share, or $0.96 annualized. This is a 9.1% increase from the prior dividend of $0.22.

The dividend will be payable on September 19, 2018, to stockholders of record on September 7, 2018, with an ex-dividend date of September 6, 2018.

The annual yield on the dividend is 2.6 percent.

"We are very pleased that our sustained financial strength enabled us to declare an increased third quarter cash dividend, reflecting our ongoing commitment to provide shareholders with a meaningful return," said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. "Our robust capital levels and earnings performance have positioned us to meet growth objectives and continue the cash dividend program, and the increased cash dividend conveys the confidence of our Board of Directors and executive management team in Mercantile's future."

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

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