Mercantile Bank Corporation Declares Regular Cash Dividend | News
The council declares $0.31 regular quarterly cash dividend on common stock resulting in a current annual return of approximately 3.6 percent
GRAND RAPIDS, Mich., April 19, 2022 /PRNewswire/ — Mercantile Bank Corporation (NASDAQ: MBWM) (“Mercantile”) announced today that the April 14, 2022its board of directors has declared a regular quarterly cash dividend of $0.31 per common share, payable on June 15, 2022to file holders from June 3, 2022.
“As demonstrated by our Board of Directors’ declaration of a cash dividend in the second quarter, we believe that our enduring overall financial strength positions us well to create shareholder value through meaningful cash returns and also achieve growth targets,” said Robert B. Kaminski, Jr., President and CEO of Mercantile. “While we remain focused on providing shareholders with competitive dividend yields, we will continue to carefully monitor the economic environment and adjust future cash dividend payments as necessary to ensure our capital levels remain sufficient to respond to capital management initiatives.”
About Mercantile Bank Corporation
Situated at Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company of Mercantile Bank. Mercantile provides banking services to companies, individuals and administrations, and stands out for the quality of service and the expertise of its banking teams. Mercantile holds assets of approximately $5.2 billion and operates 45 banking offices. Common stock of Mercantile Bank Corporation is listed on the NASDAQ Global Select Market under the symbol “MBWM”. For more information about Mercantile, visit www.mercbank.comand follow us on Facebook, Instagram and Twitter @MercBank and on LinkedIn @mercantile-bank-of-michigan.
This press release contains statements or information that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as: “anticipate”, “intend “, “plan”, “goal”, “seek”, “believe”, “project”, “estimate”, “expect”, “strategy”, “future”, “probable”, “may”, ” should”, “will”, and similar references to future periods. Such statements are based on current expectations which involve a number of risks and uncertainties. Actual results may differ materially from the results expressed in the forward-looking statements. Factors that could cause such a difference include changes in interest rates and interest rate relationships; rising inflation rates and slowing growth rates; significant declines in the value of commercial real estate; Market volatility; demand for products and services; the degree of competition from traditional and non-traditional financial services companies; changes in banking regulations or actions of banking regulators; changes in tax laws; changes in prices, levies and valuations; the impact of technological advances; potential cyberattacks, information security breaches and other criminal activities; litigation liabilities; changes in government and regulatory policies; the results of existing or future contingencies; trends in customer behavior and their ability to repay loans; changes in local real estate values; damage to our reputation resulting from adverse publicity, regulatory actions, litigation, operational failures and failure to meet customer expectations and other events; changes to the method of determining Libor and the phasing out of Libor; changes in national and local economies, including the continued disruption of financial market and other economic activities caused by the COVID-19 pandemic, unstable political and economic environment; and other factors, including those expressed as risk factors, disclosed from time to time in Mercantile’s filings with the Securities and Exchange Commission. Mercantile assumes no obligation to update or clarify any forward-looking statements, whether as a result of new information, future events or otherwise. Investors are cautioned not to place undue reliance on any forward-looking statements contained herein.
SOURCE Mercantile Bank Corporation