Farmers & Merchants Bancorp, Inc. Announces 30th Consecutive Annual Increase in Dividend

Rhea-AI Summary

Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO) has announced its 30th consecutive annual increase in dividend. The Board of Directors approved a quarterly cash dividend of $0.22125 per share, payable on October 20, 2024, to shareholders of record as of October 4, 2024. This represents a $0.00125 increase from the previous quarter.

The company, which holds total assets of $3.32 billion as of June 30, 2024, has demonstrated consistent growth in its dividend payments. The annual dividend has increased from $0.2375 in 2004 to $0.8825 in 2024, reflecting a 6.8% compound annual growth rate over this period. President and CEO Lars B. Eller highlighted this achievement as a testament to F&M's growth, strong capital levels, and profitable business model.

Positive

• 30th consecutive annual increase in dividend
• Quarterly dividend increased to $0.22125 per share
• Total assets of $3.32 billion as of June 30, 2024
• 6.8% compound annual growth rate in dividend from 2004 to 2024

Negative

• None.

News Market Reaction

-0.26%

1 alert

-0.26% News Effect

On the day this news was published, FMAO declined 0.26%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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 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 30^th 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 statement
Farmers & 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 amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Actual results could vary materially depending on risks and uncertainties inherent in general and local banking conditions, competitive factors specific to markets in which F&M and its subsidiaries operate, future interest rate levels, legislative and regulatory decisions, capital market conditions, or the effects of the COVID-19 pandemic, and its impacts on our credit quality and business operations, as well as its impact on general economic and financial market conditions. F&M assumes no responsibility to update this information. For more details, please refer to F&M’s SEC filing, including its most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Such filings can be viewed at the SEC’s website, www.sec.gov or through F&M’s website www.fm.bank.

Company Contact:	Investor and Media Contact:
Lars B. Eller President and Chief Executive Officer Farmers & Merchants Bancorp, Inc. (419) 446-2501 leller@fm.bank	Andrew M. Berger Managing Director SM Berger & Company, Inc. (216) 464-6400 andrew@smberger.com

FAQ

What is the new quarterly dividend for Farmers & Merchants Bancorp (FMAO)?

The new quarterly dividend for Farmers & Merchants Bancorp (FMAO) is $0.22125 per share.

When will FMAO's third-quarter dividend be paid?

FMAO's third-quarter dividend will be paid on October 20, 2024, to shareholders of record as of October 4, 2024.

How many consecutive years has FMAO increased its dividend?

FMAO has increased its dividend for 30 consecutive years.

What is the annualized dividend for FMAO in 2024?

The annualized dividend for FMAO in 2024 is $0.885 per share.

What was the compound annual growth rate of FMAO's dividend from 2004 to 2024?

The compound annual growth rate of FMAO's dividend from 2004 to 2024 was 6.8%.