By the close of today, September 13, 2023, Mercantile Bank MBWM will issue a dividend payout of $0.34 per share, resulting in an annualized dividend yield of 4.72%. This payout is exclusively for shareholders who held the stock before the ex-dividend date on August 31, 2023.
Mercantile Bank Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2023-08-31 | 4 | $0.34 | 4.72% | 2023-07-13 | 2023-09-01 | 2023-09-13 |
| 2023-06-01 | 4 | $0.33 | 4.58% | 2023-04-13 | 2023-06-02 | 2023-06-14 |
| 2023-03-02 | 4 | $0.33 | 3.87% | 2023-01-12 | 2023-03-03 | 2023-03-15 |
| 2022-12-01 | 4 | $0.32 | 4.19% | 2022-10-13 | 2022-12-02 | 2022-12-14 |
| 2022-09-01 | 4 | $0.32 | 4.08% | 2022-07-14 | 2022-09-02 | 2022-09-14 |
| 2022-06-02 | 4 | $0.31 | 3.62% | 2022-04-14 | 2022-06-03 | 2022-06-15 |
| 2022-03-03 | 4 | $0.31 | 3.29% | 2022-01-18 | 2022-03-04 | 2022-03-16 |
| 2021-12-02 | 4 | $0.3 | 3.56% | 2021-10-19 | 2021-12-03 | 2021-12-15 |
| 2021-09-02 | 4 | $0.3 | 4.12% | 2021-07-20 | 2021-09-03 | 2021-09-15 |
| 2021-06-03 | 4 | $0.29 | 3.6% | 2021-04-15 | 2021-06-04 | 2021-06-16 |
| 2021-03-04 | 4 | $0.29 | 4.06% | 2021-01-14 | 2021-03-05 | 2021-03-17 |
| 2020-12-03 | 4 | $0.28 | 5.53% | 2020-10-15 | 2020-12-04 | 2020-12-16 |
With a dividend yield that places it neither at the top nor the bottom, Mercantile Bank finds itself in the middle among its industry peers, while Washington Trust Bancorp WASH boasts the highest annualized dividend yield at 7.98%.
Analyzing Mercantile Bank Financial Health
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing.
YoY Growth in Dividend Per Share
During the period of 2019 to 2022, the company experienced a notable growth in its dividend per share. The dividend per share increased from $1.06 to $1.26, reflecting the company's focus on providing greater returns to its shareholders.
YoY Earnings Growth For Mercantile Bank
The earnings chart above shows that from 2019 to 2022, Mercantile Bank has experienced an increase in their earnings from $2.71 per share to $3.42 per share. This positive earnings trend is promising for income-seeking investors as it suggests that the company has more potential to increase its cash dividend payout if the trend continues.
Recap
This article delves into the recent dividend payout of Mercantile Bank and its implications for shareholders. Presently, the company is distributing a dividend of $0.34 per share, leading to an annualized dividend yield of 4.72%.
With a dividend yield that places it neither at the top nor the bottom, Mercantile Bank finds itself in the middle among its industry peers, while Washington Trust Bancorp boasts the highest annualized dividend yield at 7.98%.
The increase in both dividend per share and earnings per share from 2019 to 2022 for Mercantile Bank indicates a positive financial trend, suggesting their capacity to continue distributing profits to shareholders.
Investors are encouraged to closely track the company's performance in the upcoming quarters to stay informed of any updates in financials or dividend disbursements.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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