First Merchants Corporation Announces Cash Dividend on its Preferred Stock

Rhea-AI Summary

First Merchants (NASDAQ: FRME) has announced a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A. Depositary shareholders (NASDAQ: FRMEP) will receive $0.4688 per depositary share, with each depositary share representing a 1/100th interest in the Series A preferred stock.

The dividend is scheduled for payment on May 15, 2025, to stockholders of record as of April 30, 2025. First Merchants , headquartered in Muncie, Indiana, operates through First Merchants Bank and its division First Merchants Private Wealth Advisors.

Positive

• Consistent preferred dividend payment maintained at 7.50% rate
• Regular quarterly dividend distribution signals financial stability

Negative

• Non-cumulative structure means missed dividends won't accumulate

MUNCIE, Ind., April 14, 2025 (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, 2025, to stockholders of record on April 30, 2025.

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 is the dividend amount for First Merchants (FRME) preferred stock Series A for Q2 2025?

The dividend is $46.88 per share for the Series A preferred stock, or $0.4688 per depositary share (FRMEP).

When is the ex-dividend date for First Merchants (FRME) preferred shares?

The dividend will be paid on May 15, 2025, to stockholders of record as of April 30, 2025.

What is the dividend yield for First Merchants (FRME) Series A preferred stock?

The preferred stock has a 7.50% Non-Cumulative dividend rate.

How are First Merchants (FRME) preferred shares traded on NASDAQ?

The preferred shares trade as depositary shares under symbol FRMEP, with each representing 1/100th interest in Series A preferred stock.