MBWM Mercantile Bank dividend history, payout ratio & dates
Mercantile Bank's most recent dividend was on Sep 6, 2024 (ex-date) with a cash dividend payment of $0.36 per share. On an annualized basis, the company has a current payout of $1.4 per share. This brings the dividend yield to 2.78% based on its recent close price. The latest dividend has increased by $0.01, or 2.9% from the previous payment.
Key dates
- MBWM last dividend date: Sep 6, 2024
MBWM dividend stats
vs. Financial Services sector
Dividend yield
Mercantile Bank's dividend yield of 2.78% is above the Financial Services sector and the industry average. Compared to its Financial Services sector average of 2.55%, Mercantile Bank's dividend yield is 9% higher. Historically MBWM's dividend yield has averaged at 3.9% in the last 5 years, which is above the current yield.
Dividend history
Mercantile Bank has a long dividend history, including the last 12 consecutive years with dividend payouts. MBWM has issued four quarterly dividends in the last twelve months. The annualized DPS has increased by 6% for the last year. But since the stock price has gone up by 44% from a year ago, the dividend yield has decreased by 26%.
Recent dividends
| Ex-date | Amount | Yield (TTM) |
|---|---|---|
| Sep 6, 2024 | $0.36 | 3.27% |
| Jun 7, 2024 | $0.35 | 3.79% |
| Feb 29, 2024 | $0.35 | 3.69% |
| Nov 30, 2023 | $0.34 | 3.9% |
| Aug 31, 2023 | $0.34 | 3.95% |
| Jun 1, 2023 | $0.33 | 4.91% |
| Mar 2, 2023 | $0.33 | 3.72% |
| Dec 1, 2022 | $0.32 | 3.63% |
| Sep 1, 2022 | $0.32 | 3.76% |
| Jun 2, 2022 | $0.31 | 3.76% |
| Mar 3, 2022 | $0.31 | 3.2% |
| Dec 2, 2021 | $0.3 | 3.47% |
| Sep 2, 2021 | $0.3 | 3.7% |
| Jun 3, 2021 | $0.29 | 3.51% |
| Mar 4, 2021 | $0.29 | 3.7% |
| Dec 3, 2020 | $0.28 | 4.46% |
| Sep 3, 2020 | $0.28 | 5.17% |
| Jun 4, 2020 | $0.28 | 4.67% |
| Mar 5, 2020 | $0.28 | 3.88% |
| Dec 5, 2019 | $0.27 | 3.03% |
| Sep 5, 2019 | $0.27 | 3.35% |
| Jun 6, 2019 | $0.26 | 3.22% |
| Mar 7, 2019 | $0.26 | 2.94% |
| Dec 6, 2018 | $0.25 | 3.25% |
| Sep 6, 2018 | $0.24 | 2.53% |
| Jun 7, 2018 | $0.22 | 2.2% |
| Mar 8, 2018 | $0.22 | 2.2% |
| Dec 7, 2017 | $0.19 | 2.06% |
| Sep 7, 2017 | $0.19 | 3.61% |
| Jun 7, 2017 | $0.18 | 3.31% |
| Mar 8, 2017 | $0.18 | 3.05% |
| Dec 7, 2016 | $0.5 | 2.9% |
| Sep 7, 2016 | $0.17 | 2.39% |
| Jun 8, 2016 | $0.16 | 2.47% |
| Mar 9, 2016 | $0.16 | 2.6% |
| Dec 9, 2015 | $0.15 | 2.35% |
| Sep 9, 2015 | $0.15 | 2.78% |
| Jun 10, 2015 | $0.14 | 2.55% |
| Mar 11, 2015 | $0.14 | 13.16% |
Mercantile Bank dividend payout ratio
Payout ratio
Mercantile Bank's payout ratio of 28.2% is below the Financial Services sector and the industry average. Compared to its Financial Services sector average of 44%, Mercantile Bank's payout ratio is 36% lower.
Total amount of dividends paid per financial year (from cash flow)
MBWM dividend vs peer dividends
| Name | Dividend yield | DPS | Payout ratio |
|---|---|---|---|
| FITB Fifth Third Bancorp | 2.92% | $1.42 | 47% |
| MBWM Mercantile Bank Corp | 2.71% | $1.4 | 28.2% |
| IBCP Independent Bank Corp | 2.43% | $0.96 | 32.2% |
| SRCE 1St Source Corp | 2.09% | $1.4 | 26.7% |
Frequently asked questions
Does Mercantile Bank pay a dividend?
Yes, Mercantile Bank has been paying dividends for the last 12 years.
When was MBWM's last dividend?
Mercantile Bank's last dividend ex-date was on Sep 6, 2024. The dividend amount was $0.36 per share.
How much dividend does Mercantile Bank pay (per share)?
MBWM has paid dividend of $1.4 per share in the last year.
What is Mercantile Bank's dividend yield?
The current dividend yield of Mercantile Bank is 2.78%.
How often does Mercantile Bank pay dividends?
Mercantile Bank pays dividends quarterly.
What is Mercantile Bank's dividend payout ratio?
Mercantile Bank's dividend payout ratio is 28.2%.
Does Mercantile Bank pay a good dividend?
Mercantile Bank's dividend yield is above the Financial Services sector average.
Special dividends are included in TTM DPS and yield. Data from 
and Sharadar.