First Merchants Corporation Announces Cash Dividend on Its Preferred Stock

Rhea-AI Summary

First Merchants Corporation (NASDAQ: FRME) has announced a quarterly cash dividend of $0.4688 per depositary share as part of its 7.50% Non-Cumulative Perpetual Preferred Stock Series A. This dividend is payable on August 15, 2022, to stockholders of record by July 31, 2022. The company operates primarily through its bank charter and subsidiaries in Muncie, Indiana, and its common stock is traded on the NASDAQ under the symbol FRME.

Positive

• Quarterly cash dividend of $0.4688 per depositary share signals continued shareholder returns.

Negative

• None.

News Market Reaction – FRME

+1.01%

+1.01% Session move

In the trading session that priced this news, FRME gained 1.01%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

MUNCIE, Ind., July 20, 2022 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ: FRME) 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 August 15, 2022, to stockholders of record on July 31, 2022.

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 and Level One Bank (as divisions 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, Vice President and Director of Corporate Administration
765-521-7619
http://www.firstmerchants.com

FAQ

What is the dividend amount for First Merchants Corporation (FRME)?

First Merchants Corporation has declared a quarterly dividend of $0.4688 per depositary share.

When is the dividend payable for FRME?

The dividend will be payable on August 15, 2022.

What is the record date for the dividend for FRME?

The record date for the dividend is July 31, 2022.

What type of stock does FRME issue dividends on?

The dividend is declared on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A.