Mercantile Bank Corporation (NASDAQ:MBWM) declared quarterly dividend of $ 0.28 per share, or $ 1.12 annualized.
The dividend will be payable on September 16, 2020, to stockholders of record on September 4, 2020, with an ex-dividend date of September 3, 2020.
Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile, said, We continue to prudently monitor the effects and potential future impacts of the COVID-19 pandemic on our financial condition and will evaluate future cash dividend payments as necessary to maintain capital levels that are sufficient to meet our capital management initiatives
Dividends History
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Stock Performance
According to the previous trading day, closing price of MBWM was $ 21.11, representing a 13.25 % increase from the 52 week low of $ 18.64 and a 43.44 % decrease over the 52 week high of $ 37.32.
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The company has a market capital of $ 360.75 million and is part of the Financial Services sector and Banks – Regional – US industry.
Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services for small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit. The company also offers commercial and industrial loans; vacant land, land development, and residential construction loans; owner occupied real estate, non-owner occupied real estate, and multi-family and residential rental property loans; single-family residential real estate loans; home equity line of credit programs; and consumer loans, such as loans for new and used automobiles, boats, and credit cards, as well as overdraft protection services.
