Mercantile Bank (MBWM) Declares $0.29 Quarterly Dividend; 3.6% Yield
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Mercantile Bank (NASDAQ: MBWM) declared a quarterly dividend of $0.29 per share, or $1.16 annualized.
The dividend will be payable on June 16, 2021, to stockholders of record on June 4, 2021, with an ex-dividend date of June 3, 2021.
The annual yield on the dividend is 3.6 percent.
"The declaration of the second quarter cash dividend reflects our ongoing commitment to building shareholder value through meaningful cash returns," said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. "Our position of financial strength at the onset of the COVID-19 pandemic and subsequent strong operating performance have allowed us to continue our cash dividend program and reward shareholders with competitive dividend yields. We continue to monitor the potential impacts of the pandemic and may adjust future dividend payments as deemed necessary to ensure capital levels remain adequate to meet growth objectives and other capital management initiatives."
For a dividend history and other dividend-related data on Mercantile Bank (MBWM) click here.
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