Mercantile Bank increases its quarterly payout by 2.6% to $0.40, yielding 2.77% forward.
Mercantile Bank announced a 2.6% increase in its quarterly dividend to $0.40 per share, up from $0.39. The new payout offers a forward yield of 2.77%.
The prior dividend stood at $0.39 per share. The company last adjusted its dividend in the previous quarter, maintaining a steady growth trajectory.
The dividend is payable September 16 to shareholders of record as of September 4, with an ex-dividend date of September 4.