Macatawa Bank's most recent quarterly dividend was on Nov 13, 2023 (ex-date) with a cash dividend payment of $0.09 per share. On an annualized basis, the company has a current payout of $0.33 per share. This brings the dividend yield to 3.3% based on its recent close price. The latest dividend marks an increase of $0.01, or 13% from the previous payment.
Macatawa Bank's dividend yield of 3.3% is lower than the Financial Services sector and the industry average. But in comparison with the Financial Services sector average of 3.39%, Macatawa Bank's dividend yield is only 2.7% lower. Historically MCBC's dividend yield has averaged at 3.4% in the last 5 years, which is in line with the current one.
Macatawa Bank has a long dividend history, including the last nine consecutive years with dividend payouts. MCBC has issued four quarterly dividends in the last twelve months. The annualized DPS marks an increase of 3.1% for the last year. And since the stock price has gone down by 12% from a year ago, the dividend yield marks an increase of 17%.
| Ex-date | Payment date | Declared on | Amount | Type |
|---|---|---|---|---|
| Nov 13, 2023 | Nov 29, 2023 | Oct 26, 2023 | $0.09 | normal |
| Aug 14, 2023 | Aug 30, 2023 | Jul 27, 2023 | $0.08 | normal |
| May 12, 2023 | May 30, 2023 | Apr 27, 2023 | $0.08 | normal |
| Feb 10, 2023 | Feb 28, 2023 | Jan 26, 2023 | $0.08 | normal |
| Nov 14, 2022 | Nov 30, 2022 | Oct 27, 2022 | $0.08 | normal |
| Aug 10, 2022 | Aug 25, 2022 | Jul 28, 2022 | $0.08 | normal |
| May 11, 2022 | May 26, 2022 | Apr 28, 2022 | $0.08 | normal |
| Feb 9, 2022 | Feb 24, 2022 | Jan 27, 2022 | $0.08 | normal |
| Nov 9, 2021 | Nov 29, 2021 | Oct 28, 2021 | $0.08 | normal |
| Aug 10, 2021 | Aug 26, 2021 | Jul 26, 2021 | $0.08 | normal |
| May 11, 2021 | May 27, 2021 | Apr 26, 2021 | $0.08 | normal |
| Feb 9, 2021 | Feb 25, 2021 | Jan 28, 2021 | $0.08 | normal |
| Nov 9, 2020 | Nov 25, 2020 | Oct 26, 2020 | $0.08 | normal |
| Aug 10, 2020 | Aug 27, 2020 | Jul 27, 2020 | $0.08 | normal |
| May 11, 2020 | May 28, 2020 | Apr 16, 2020 | $0.08 | normal |
| Feb 10, 2020 | Feb 27, 2020 | Jan 16, 2020 | $0.08 | normal |
| Nov 8, 2019 | Nov 27, 2019 | Oct 17, 2019 | $0.07 | normal |
| Aug 12, 2019 | Aug 29, 2019 | Jul 18, 2019 | $0.07 | normal |
| May 13, 2019 | May 30, 2019 | Apr 29, 2019 | $0.07 | normal |
| Feb 11, 2019 | Feb 27, 2019 | Jan 17, 2019 | $0.07 | normal |
| Nov 9, 2018 | Nov 28, 2018 | Oct 18, 2018 | $0.07 | normal |
| Aug 13, 2018 | Aug 29, 2018 | Jul 19, 2018 | $0.06 | normal |
| May 14, 2018 | May 30, 2018 | Apr 19, 2018 | $0.06 | normal |
| Feb 12, 2018 | Feb 28, 2018 | Jan 18, 2018 | $0.06 | normal |
| Nov 13, 2017 | Nov 29, 2017 | Oct 30, 2017 | $0.05 | normal |
| Aug 11, 2017 | Aug 30, 2017 | Jul 20, 2017 | $0.05 | normal |
| May 11, 2017 | May 30, 2017 | Apr 20, 2017 | $0.04 | normal |
| Feb 9, 2017 | Feb 28, 2017 | Jan 19, 2017 | $0.04 | normal |
| Nov 9, 2016 | Nov 29, 2016 | Oct 31, 2016 | $0.03 | normal |
| Aug 11, 2016 | Aug 30, 2016 | Jul 21, 2016 | $0.03 | normal |
Macatawa Bank's payout ratio of 24.8% is below the Financial Services sector and the industry average. In comparison with its Financial Services sector average of 36.5%, Macatawa Bank's payout ratio is 32% lower.
| Name | Dividend yield | DPS | Payout ratio |
|---|---|---|---|
| BUSE First Busey Corp | 4.21% | $0.96 | 40.7% |
| MBWM Mercantile Bank Corp | 3.7% | $1.34 | 25.5% |
| MCBC Macatawa Bank Corp | 3.3% | $0.33 | 24.8% |
Yes, Macatawa Bank has been paying dividends for the last nine years.
Currently MCBC's next dividend date is unknown, however based on the recent dividend frequency we project that it will likely be in February 2024.
Macatawa Bank's last dividend ex-date was on Nov 13, 2023. The dividend amount was $0.09 per share.
MCBC's annualized dividend per share is $0.33.
The current dividend yield of Macatawa Bank is 3.3%.
Macatawa Bank pays dividends quarterly.
The dividend payout ratio of Macatawa Bank is 24.8%.
Macatawa Bank's dividend yield is in line with the Financial Services sector average.