#United States #Grand Rapids #Cash Dividend #Mercantile Bank #NASDAQ MBWM

Mercantile Bank Corporation Increases Regular Cash Dividend

On January 21, 2025, Mercantile Bank Corporation, traded under the NASDAQ symbol MBWM, announced a significant stride in its commitment to shareholders. On January 16, 2025, the Board of Directors declared a regular quarterly cash dividend of $0.37 per common share, which will be paid to shareholders on March 19, 2025. This marks a notable increase of 2.8% over the cash dividends distributed in the fourth quarter of 2024, and a 5.7% rise when compared to those disbursed in the first quarter of 2024.

President and CEO Ray Reitsma expressed his confidence in this development, stating, "The declaration of this increased cash dividend encapsulates our unwavering dedication to augmenting shareholder value. Our ability to maintain robust earnings and a solid financial foundation amidst these challenging economic landscapes allows us to persist in rewarding our shareholders effectively."

Despite the ongoing economic uncertainty that has shaped many financial strategies, Mercantile Bank Corporation has demonstrated resilience. The company's consistent performance, coupled with its healthy balance sheet, provides a stable foundation for future growth and continued dividend payments. Reitsma noted that these factors not only affirm the effectiveness of their dividend program but also suggest a promising outlook for potential asset growth in upcoming periods.

Headquartered in Grand Rapids, Michigan, Mercantile Bank Corporation operates as a holding entity for Mercantile Bank, recognized for providing a wide range of financial services and products tailored to meet the diverse needs of businesses, individuals, and governmental entities. With a robust asset portfolio of around $6 billion, the bank prides itself on delivering professional, personalized service, distinguishing it as one of Michigan's largest banking institutions. Mercantile's reputation for exceptional service and community involvement further strengthens its position in the market.

Mercantile Bank Corporation's stock is publicly traded and accessible on the NASDAQ Global Select Market. For additional information, stakeholders and interested parties are encouraged to visit the official website at www.mercbank.com or to follow them on social media platforms like Facebook, Instagram, X (formerly Twitter), and LinkedIn.

In the context of forward-looking statements, the bank highlighted that this announcement also contains cautionary notes regarding future possibilities. Factors affecting future performance include economic conditions, interest rate fluctuations, regulatory changes, and several other risks, which may impact actual results compared to currently anticipated performance.

In conclusion, the increase in the cash dividend by Mercantile Bank Corporation serves as a key indicator of its commitment to shareholder value. Investors can look forward to the upcoming dividends as a testament to the bank’s robust financial management and strategic planning in both stable and challenging economic scenarios.