Mercantile Bank (MBWM) Raises Quarterly Dividend 3.7% to $0.28; 3.2% Yield

Mercantile Bank (NASDAQ: MBWM) declared a quarterly dividend of $0.28 per share, or $1.12 annualized. This is a 3.7% increase from the prior dividend of $0.27.

The dividend will be payable on March 18, 2020, to stockholders of record on March 6, 2020, with an ex-dividend date of March 5, 2020.

The annual yield on the dividend is 3.2 percent.

"We are very pleased that our strong financial condition allowed us to grow the regular quarterly cash dividend," said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. "The higher cash dividend reflects our ongoing pledge to provide shareholders with a meaningful cash return and the shared confidence of our Board of Directors and executive management team that Mercantile will produce sound operating results in 2020 and beyond. Our desire is to maintain a cash dividend payout between 35 percent and 40 percent of net income in future periods."

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

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