Mercantile Bank Raises Quarterly Dividend by 2.8%

Dow Jones

2025/01/21

By Colin Kellaher

Mercantile Bank's board has raised the bank holding company's quarterly dividend by 2.8%, to 37 cents from 36 cents.

The new payout, equal to $1.48 a year, represents an annual yield of about 3.35% based on Friday's closing price of $44.21, up from 3.26%.

The Grand Rapids, Mich., company on Tuesday said the increased dividend is payable March 19 to shareholders of record March 7.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

January 21, 2025 05:54 ET (10:54 GMT)

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