Mercantile Bank (MBWM) Raises Quarterly Dividend 4% to $0.26; 3.2% Yield

Mercantile Bank (NASDAQ: MBWM) declared a quarterly dividend of $0.26 per share, or $1.04 annualized. This is a 4% increase from the prior dividend of $0.25.

The dividend will be payable on March 20, 2019, to stockholders of record on March 8, 2019, with an ex-dividend date of March 7, 2019.

The annual yield on the dividend is 3.2 percent.

"We are very pleased that our ongoing financial strength has allowed us to reward shareholders with a higher regular quarterly cash dividend," said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. "The increased cash dividend depicts our commitment to provide shareholders with a competitive dividend yield, along with our desire to sustain the cash dividend payout between 35 percent and 40 percent of net income. As evidenced by the cash dividend program, our Board of Directors and executive management team are confident that Mercantile will produce solid operating results in future periods."

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

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