Mercantile Bank (MBWM) Declares $0.15 Quarterly Dividend; 2.9% Yield
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Mercantile Bank Corporation Reports Strong Third Quarter 2015 Results
October 20, 2015 6:00 AM EDTGRAND RAPIDS, Mich., Oct. 20, 2015 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $7.3 million, or $0.45 per diluted share, for the third quarter of 2015, compared with net income of $5.9 million, or $0.35 per diluted share, for the prior-year period. The third quarter of 2014 results included $1.3 million in pre-tax merger-related costs associated with the merger with Firstbank Corporation ("Firstbank"), which amounted to $0.9 million after tax, or $0.05 per share. Excluding these costs, adjusted net income in the year-ago quarter was $6.8 million and adjusted earnings per diluted share was $0.40.
Third quarter 2015... More
Mercantile Bank Corporation Declares Dividend
October 20, 2015 5:59 AM EDTGRAND RAPIDS, Mich., Oct. 20, 2015 /PRNewswire/ --Â Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that on October 15, 2015 its Board of Directors declared a regular quarterly cash dividend of $0.15 per common share, payable December 23, 2015 to holders of record as of December 11, 2015.
"We are pleased that our strong capital position and operating performance have allowed us to continue to pay meaningful cash dividends," said Michael Price, Chairman and Chief Executive Officer of Mercantile. "As reflected by the sustained cash dividend program, we are committed to providing a competitive return to shareholders and are confident... More
