Mercantile Bank (MBWM) Raises Quarterly Dividend 6.7% to $0.16; 2.9% Yield

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Go back to Mercantile Bank (MBWM) Raises Quarterly Dividend 6.7% to $0.16; 2.9% Yield

Mercantile Bank Corporation Increases Dividend

January 19, 2016 5:59 AM EST

GRAND RAPIDS, Mich., Jan. 19, 2016 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:  MBWM) ("Mercantile") announced today that on January 14, 2016 its Board of Directors declared a regular quarterly cash dividend of $0.16 per common share, payable March 23, 2016 to holders of record as of March 11, 2016.  The $0.16 cash dividend represents an increase of approximately 7 percent from the $0.15 cash dividend paid during the fourth quarter of 2015.

"We are pleased that our sound financial condition has allowed us to grow the cash dividend," said Michael Price, Chairman, President and Chief Executive Officer of Mercantile.  "The increased dividend and sustained cash... More