Mercantile Bank's most recent quarterly dividend was on Jun 2, 2022 (ex-date) with a cash dividend payment of $0.31 per share. On an annualized basis, the company has a current payout of $1.22 per share. This brings the dividend yield to 3.74% based on its recent close price.
Mercantile Bank's dividend yield of 3.74% is above the Financial Services sector, the industry and its peers average.
Mercantile Bank has a long dividend history, including the last ten consecutive years with dividend payouts. MBWM has issued four quarterly dividends in the last twelve months. The annualized DPS has increased by 7% for the last year. And since the stock price has gone up by 7% from a year ago, the dividend yield has increased by 0.2%.
| Ex-date | Payment date | Declared on | Amount | Type |
|---|---|---|---|---|
| Jun 2, 2022 | Jun 15, 2022 | Apr 14, 2022 | $0.31 | normal |
| Mar 3, 2022 | Mar 16, 2022 | Jan 18, 2022 | $0.31 | normal |
| Dec 2, 2021 | Dec 15, 2021 | Oct 19, 2021 | $0.3 | normal |
| Sep 2, 2021 | Sep 15, 2021 | Jul 20, 2021 | $0.3 | normal |
| Jun 3, 2021 | Jun 16, 2021 | Apr 15, 2021 | $0.29 | normal |
| Mar 4, 2021 | Mar 17, 2021 | Jan 19, 2021 | $0.29 | normal |
| Sep 3, 2020 | Sep 16, 2020 | Jul 16, 2020 | $0.28 | normal |
| Jun 4, 2020 | Jun 17, 2020 | Apr 16, 2020 | $0.28 | normal |
| Mar 5, 2020 | Mar 18, 2020 | Jan 16, 2020 | $0.28 | normal |
| Dec 5, 2019 | Dec 18, 2019 | Oct 10, 2019 | $0.27 | normal |
| Sep 5, 2019 | Sep 18, 2019 | Jul 11, 2019 | $0.27 | normal |
| Jun 6, 2019 | Jun 19, 2019 | Apr 11, 2019 | $0.26 | normal |
| Mar 7, 2019 | Mar 20, 2019 | Jan 17, 2019 | $0.26 | normal |
| Dec 6, 2018 | Dec 19, 2018 | Oct 11, 2018 | $0.75 | special |
| Dec 6, 2018 | Dec 19, 2018 | Oct 11, 2018 | $0.25 | normal |
| Sep 6, 2018 | Sep 19, 2018 | Jul 12, 2018 | $0.24 | normal |
| Jun 7, 2018 | Jun 20, 2018 | Apr 12, 2018 | $0.22 | normal |
| Mar 8, 2018 | Mar 21, 2018 | Jan 11, 2018 | $0.22 | normal |
| Dec 7, 2017 | Dec 20, 2017 | Oct 12, 2017 | $0.19 | normal |
| Sep 7, 2017 | Sep 20, 2017 | Jul 18, 2017 | $0.19 | normal |
| Jun 7, 2017 | Jun 21, 2017 | Apr 13, 2017 | $0.18 | normal |
| Mar 8, 2017 | Mar 22, 2017 | Jan 17, 2017 | $0.18 | normal |
| Dec 7, 2016 | Dec 21, 2016 | Oct 13, 2016 | $0.17 | normal |
| Dec 7, 2016 | Dec 21, 2016 | Oct 13, 2016 | $0.5 | special |
| Sep 7, 2016 | Sep 21, 2016 | Jul 14, 2016 | $0.17 | normal |
| Jun 8, 2016 | Jun 23, 2016 | Apr 14, 2016 | $0.16 | normal |
Mercantile Bank's payout ratio of 34.5% is above the Financial Services sector, the industry and its peers average.
| Name | Dividend yield | DPS | Payout ratio |
|---|---|---|---|
| MBWM Mercantile Bank Corp | 3.74% | $1.22 | 34.5% |
| MCBC Macatawa Bank Corp | 3.64% | $0.32 | 40% |
| FITB Fifth Third Bancorp | 3.55% | $1.2 | 34% |
| SRCE 1St Source Corp | 2.69% | $1.24 | 26.4% |