First Merchants Corporation (NASDAQ:FRME) declared a quarterly cash dividend on its 7.50% Non-Cumulative Perpetual Preferred Stock, Series A (depositary shares traded as NASDAQ:FRMEP).
Holders of depositary shares will receive $0.4688 per depositary share (equivalent to $46.88 per full preferred share). The dividend is payable on May 15, 2026 to holders of record on April 30, 2026.
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Positive
Declared quarterly dividend payable May 15, 2026
$0.4688 per depositary share (represents $46.88 per full preferred share)
Clear record date of April 30, 2026 gives timeline certainty for investors
Negative
Non-cumulative preferred shares do not accrue missed dividends
News Market Reaction – FRME
+2.62%
+2.62%Session close to close
In the Apr 17 session, FRME gained 2.62%, reflecting a moderate positive market reaction.
MUNCIE, Ind., April 16, 2026 (GLOBE NEWSWIRE) -- First Merchants Corporation has declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A, represented by depositary shares (NASDAQ: FRMEP) each representing a 1/100th interest in a share of the Series A preferred stock. Holders of depositary shares will receive $0.4688 per depositary share. The dividend will be payable on May 15, 2026, to stockholders of record on April 30, 2026.
About First Merchants Corporation:
First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank).
First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. Depositary shares representing a 1/100th interest in a share of First Merchants Corporation’s 7.50% Non-Cumulative Perpetual Preferred Stock, Series A are traded on the NASDAQ Global Select Market System under the symbol FRMEP. Quotations are carried in daily newspapers and can be found on the company’s Internet web page (http://www.firstmerchants.com).
FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.
For more information, contact: Nicole M. Weaver, First Vice President and Director of Corporate Administration 765-521-7619 http://www.firstmerchants.com
FAQ
What dividend did First Merchants (FRME) declare on April 16, 2026?
The company declared a quarterly cash dividend on its 7.50% Series A preferred stock. According to the company, the dividend equals $46.88 per full preferred share, paid as $0.4688 per 1/100th depositary share.
When will the FRMEP preferred dividend be paid and who is eligible?
The dividend is payable on May 15, 2026 to holders of record on April 30, 2026. According to the company, depositary shareholders listed on the record date will receive the $0.4688 payment per depositary share.
How much will holders of FRMEP receive per depositary share for the May 15, 2026 payment?
Holders of FRMEP will receive $0.4688 per depositary share for the declared quarter. According to the company, each depositary share represents a 1/100th interest in a full Series A preferred share.
What does it mean that First Merchants' Series A preferred stock is non-cumulative for FRMEP holders?
Non-cumulative means missed dividend payments are not accumulated for future payment. According to the company, if a dividend is not declared in a period, holders have no claim to past unpaid dividends.
Where are First Merchants common and depositary preferred shares traded (symbols)?
First Merchants common stock trades on NASDAQ under the symbol FRME and depositary shares of the Series A preferred trade as FRMEP. According to the company, market quotations appear in daily listings and on its website.
