Merchants Bancshares (MBVT) Declares $0.28 Quarterly Dividend; 3.8% Yield

Go back to Merchants Bancshares (MBVT) Declares $0.28 Quarterly Dividend; 3.8% Yield

Merchants Bancshares, Inc. Announces Dividend, Fourth Quarter and Year End 2015 Results

January 21, 2016 4:01 PM EST

SOUTH BURLINGTON, Vt., Jan. 21, 2016 /PRNewswire/ -- Merchants Bancshares, Inc.  (NASDAQ: MBVT),  the  parent  company  of Merchants Bank, today announced net income  of $2.31 million, or $0.36 per basic and diluted share for the fourth quarter of 2015. The fourth quarter of 2015 included $1.6 million of merger-related expenses, net of tax, related to the acquisition of NUVO Bank & Trust Company, which closed on December 4, 2015, and retirement costs net of tax. Excluding these items, the Company's core net income was $3.94 million or $0.61 per basic and diluted share. This compares to net income of $2.50 million, or $0.40 per basic and $0.39 per diluted share, for the... More