Mercantile Bank (MBWM) Raises Quarterly Dividend 7.1% to $0.15; 2.9% Yield
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Mercantile Bank Corporation Reports Strong Second Quarter 2015 Results
July 21, 2015 6:00 AM EDTGRAND RAPIDS, Mich., July 21, 2015 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $6.6 million, or $0.39 per diluted share, for the second quarter of 2015, compared with net income of $1.5 million, or $0.13 per diluted share, for the prior-year period. The second quarter of 2014 results included $3.5 million in pre-tax merger-related costs, which amounted to $2.4 million after tax, or $0.21 per share. Excluding these costs, adjusted net income in the year-ago quarter was $3.9 million and adjusted earnings per diluted share was $0.34. The year-ago second quarter included the consolidated results of Firstbank Corporation ("Firstbank") for June... More
Mercantile Bank Corporation Increases Dividend
July 21, 2015 5:59 AM EDTGRAND RAPIDS, Mich., July 21, 2015 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that on July 16, 2015 its Board of Directors declared a regular quarterly cash dividend of $0.15 per common share, payable September 23, 2015 to holders of record as of September 11, 2015. The $0.15 cash dividend represents an increase of approximately seven percent from the $0.14 cash dividend paid during the second quarter of 2015.
"We are pleased that our sound financial condition has allowed us to consistently pay quarterly cash dividends on our common stock," said Michael Price, Chairman and Chief Executive Officer of... More
