Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit. The company also offers commercial and industrial loans; vacant land, land development, and residential construction loans; owner and non-owner-occupied real estate loans; multi-family and residential rental property loans; single-family residential real estate loans; home equity line of credit programs; and consumer loans, such as new and used automobile and boat loans, and credit cards, as well as overdraft protection services; and residential mortgage and instalment loans. In addition, it provides courier services and safe deposit facilities; and insurance products, such as private passenger automobile, homeowners, personal inland marine, boat owners, recreational vehicle, dwelling fire, umbrella policies, small business, and life insurance products, as well as owns 22 automated teller machines and 19 video banking machines. As of January 18, 2022, the company operated 44 banking offices. Mercantile Bank Corporation was incorporated in 1997 and is headquartered in Grand Rapids, Michigan.
Mercantile Bank Dividend Announcement
• Mercantile Bank announced a quarterly dividend of $0.36 per ordinary share which will be made payable on 2024-12-18. Ex dividend date: 2024-12-06
• Mercantile Bank annual dividend for 2024 was $1.42
• Mercantile Bank annual dividend for 2023 was $1.34
• Mercantile Bank's trailing twelve-month (TTM) dividend yield is 2.85%
• Mercantile Bank's payout ratio for the trailing twelve months (TTM) is 27.64%
• Mercantile Bank's dividend growth over the last five years (2018-2023) was -4.42% year
• Mercantile Bank's dividend growth over the last ten years (2013-2023) was 11.53% year
Mercantile Bank Dividend History
Ex-Div date | Dividend amount | Dividend type | Pay date |
---|---|---|---|
2024-12-06 | $0.36 | quarterly | 2024-12-18 |
2024-09-06 | $0.36 | quarterly | 2024-09-18 |
2024-06-07 | $0.35 | quarterly | 2024-06-19 |
2024-02-29 | $0.35 | quarterly | 2024-03-13 |
2023-11-30 | $0.34 | quarterly | 2023-12-13 |
2023-08-31 | $0.34 | quarterly | 2023-09-13 |
2023-06-01 | $0.33 | quarterly | 2023-06-14 |
2023-03-02 | $0.33 | quarterly | 2023-03-15 |
2022-12-01 | $0.32 | quarterly | 2022-12-14 |
2022-09-01 | $0.32 | quarterly | 2022-09-14 |
2022-06-02 | $0.31 | quarterly | 2022-06-15 |
2022-03-03 | $0.31 | quarterly | 2022-03-16 |
2021-12-02 | $0.30 | quarterly | 2021-12-15 |
2021-09-02 | $0.30 | quarterly | 2021-09-15 |
2021-06-03 | $0.29 | quarterly | 2021-06-16 |
2021-03-04 | $0.29 | quarterly | 2021-03-17 |
2020-12-03 | $0.28 | quarterly | 2020-12-16 |
2020-09-03 | $0.28 | quarterly | 2020-09-16 |
2020-06-04 | $0.28 | quarterly | 2020-06-17 |
2020-03-05 | $0.28 | quarterly | 2020-03-18 |
2019-12-05 | $0.27 | quarterly | 2019-12-18 |
2019-09-05 | $0.27 | quarterly | 2019-09-18 |
2019-06-06 | $0.26 | quarterly | 2019-06-19 |
2019-03-07 | $0.26 | quarterly | 2019-03-20 |
2018-12-06 | $1.00 | quarterly | 2018-12-19 |
2018-09-06 | $0.24 | quarterly | 2018-09-19 |
2018-06-07 | $0.22 | quarterly | 2018-06-20 |
2018-03-08 | $0.22 | quarterly | 2018-03-21 |
2017-12-07 | $0.19 | quarterly | 2017-12-20 |
2017-09-07 | $0.19 | quarterly | 2017-09-20 |
2017-06-07 | $0.18 | quarterly | 2017-06-21 |
2017-03-08 | $0.18 | quarterly | 2017-03-22 |
2016-12-07 | $0.67 | quarterly | 2016-12-21 |
2016-09-07 | $0.17 | quarterly | 2016-09-21 |
2016-06-08 | $0.16 | quarterly | 2016-06-23 |
2016-03-09 | $0.16 | quarterly | 2016-03-23 |
2015-12-09 | $0.15 | quarterly | 2015-12-23 |
2015-09-09 | $0.15 | quarterly | 2015-09-23 |
2015-06-10 | $0.14 | quarterly | 2015-06-24 |
2015-03-11 | $0.14 | quarterly | 2015-03-25 |
2014-12-10 | $0.12 | quarterly | 2014-12-24 |
2014-09-10 | $0.12 | quarterly | 2014-09-24 |
2014-06-11 | $0.12 | quarterly | 2014-06-25 |
2014-05-20 | $2.00 | quarterly | 2014-05-29 |
2014-02-06 | $0.12 | quarterly | 2014-03-10 |
2013-11-06 | $0.12 | quarterly | 2013-12-10 |
2013-08-07 | $0.12 | quarterly | 2013-09-10 |
2013-05-08 | $0.11 | quarterly | 2013-06-10 |
2013-02-06 | $0.10 | quarterly | 2013-03-08 |
Mercantile Bank Dividend per year
Mercantile Bank Dividend growth
Mercantile Bank Dividend Yield
Mercantile Bank current trailing twelve-month (TTM) dividend yield is 2.85%. Interested in purchasing Mercantile Bank stock? Use our calculator to estimate your expected dividend yield:
Mercantile Bank Financial Ratios
Mercantile Bank Dividend FAQ
Other factors to consider when evaluating Mercantile Bank as a dividend stock include its dividend yield, dividend growth, payout ratio, and the sustainability of its dividend payments given its earnings and cash flow. These factors can provide insight into the company's ability to maintain or increase its dividend in the future.
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1. Determination of Dividend: Mercantile Bank's board of directors reviews the company's financial performance, cash flow, future investment needs, and other relevant factors to determine the amount and timing of dividend payments.
2. Dividend Declaration: Once the board approves a dividend, Mercantile Bank publicly announces the dividend amount, currency, and the ex-dividend date. The ex-dividend date is the date on or after which the buyer of the stock will not be eligible to receive the upcoming dividend payment.
3. Record Date: The record date is the date on which the company checks its records to identify shareholders who are eligible to receive the dividend. Only shareholders on record as of this date will receive the dividend.
4. Payment Date: On the designated payment date, Mercantile Bank distributes the dividend to eligible shareholders. The dividend is usually paid in the form of cash directly into the shareholder's brokerage account or through other designated payment methods.
5. Tax Implications: Dividends received from Mercantile Bank are generally taxable as income. Shareholders may need to report dividend income on their tax returns and pay applicable taxes according to their jurisdiction's tax regulations.
1. Record Date: Mercantile Bank sets a record date, which is the date on which the company checks its records to determine the eligible shareholders. Only those who are shareholders on record as of this date will receive the dividend.
2. Payment Date: On the designated payment date, Mercantile Bank distributes the dividend to eligible shareholders. The payment is usually made electronically, directly into the shareholder's brokerage account or bank account.
3. Currency: Mercantile Bank declares the currency in which the dividend will be paid. Depending on the shareholder's location and the currency election made by the shareholder, the dividend will be converted to the appropriate currency during the payment process.
To assess the safety of Mercantile Bank's dividend, it is crucial to analyze the company's financial health, debt levels, cash flow generation, and ability to sustain dividend payments over the long term. Additionally, monitoring the company's future earnings, cash flow projections, and management's commitment to dividend policies can provide valuable insights.
It is recommended to review Mercantile Bank's financial reports, official announcements, and consult with financial advisors or experts who have access to the most current and comprehensive information about the company's financial situation.