Business
Farmers & Merchants Bancorp, Inc. Announces 30th Consecutive Annual Increase in Dividend
Regular quarterly dividend increased to $0.22125 per share, or $0.885 per share annualized ARCHBOLD, Ohio, Sept. 24, 2024 (GLOBE NEWSWIRE) -- The Board of
About this update from Farmers & Merchants Bancorp, Inc.
[{"type":"text","content":"Regular quarterly dividend increased to $0.22125 per share, or $0.885 per share annualized\nARCHBOLD, Ohio, Sept. 24, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (Nasdaq: FMAO) the holding company of F&M Bank, with total assets of $3.32 billion at June 30, 2024, today announced that it has approved the Company’s quarterly cash dividend of $0.22125 per share. The third-quarter dividend is payable on October 20, 2024, to shareholders of record as of October 4, 2024. The $0.22125 per share cash dividend reflects a $0.00125 per share increase in the quarterly dividend, representing the 30th consecutive annual increase in the Company’s regular dividend payment. Lars B. Eller, President and Chief Executive Officer stated, “I am proud that F&M has established one of the longest track records of consecutive dividend increases for publicly traded banks, reflecting F&M’s growth, strong capital levels, and profitable business model. F&M’s financial and operating strength has provided us with flexibility to return additional capital back to shareholders throughout various economic cycles. In fact, F&M’s annual dividend will have increased from $0.2375 in 2004 to $0.8825 in 2024 reflecting a 6.8% compound annual growth rate over this period.” About Farmers & Merchants State Bank:Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) is the holding company of F&M Bank, a local independent community bank that has been serving its communities since 1897. F&M Bank provides commercial banking, retail banking and other financial services. Our locations are in Butler, Champaign, Fulton, Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood counties in Ohio. In Northeast Indiana, we have offices located in Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan footprint includes Oakland County, and we have Loan Production Offices in West Bloomfield, Michigan; Muncie, Indiana; and Perrysburg and Bryan, Ohio. Safe Harbor statementFarmers & Merchants Bancorp, Inc. (“F&M”) wishes to take advantage of the Safe Harbor provisions included in the Private Securities Litigation Reform Act of 1995. Statements by F&M, including management’s expectations and comments, may not be based on historical facts and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as ...