Mercantile Bank Corporation (NASDAQ: MBWM) announced today that on July 14, 2022, its Board of Directors declared a regular quarterly cash dividend of $0.32 per common share, payable on September 14, 2022, to holders of record as of September 2, 2022. The $0.32 cash dividend represents an increase of 3.2 percent from the $0.31 regular cash dividend paid during the second quarter of 2022.
“We are very pleased that our ongoing financial strength permitted us to declare an increased regular quarterly cash dividend,” said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. “As evidenced by the higher cash dividend, we remain committed to providing shareholders with competitive returns on their investments while supporting sustained robust loan growth. We will continue to judiciously monitor the economic environment and take a proactive stance to ensure our capital position remains sufficient to meet growth objectives and other capital plans.”
Based in Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company for Mercantile Bank. Mercantile provides banking services to businesses, individuals and governmental units, and differentiates itself on the basis of service quality and the expertise of its banking staff. Mercantile has assets of approximately $5.1 billion and operates 45 banking offices. Mercantile Bank Corporation’s common stock is listed on the NASDAQ Global Select Market under the symbol “MBWM.”