First Merchants Corporation Announces Cash Dividend on Its Preferred Stock

Rhea-AI Summary

First Merchants Corporation has declared a quarterly cash dividend of $0.4688 per depositary share on its 7.50% Non-Cumulative Perpetual Preferred Stock, Series A. This dividend will be payable on May 15, 2022, to stockholders of record on April 30, 2022. The preferred shares are represented by depositary shares traded on NASDAQ under the symbol FRMEP. First Merchants Corporation, a financial holding company headquartered in Muncie, Indiana, operates under the common stock symbol FRME.

Positive

• Quarterly cash dividend of $0.4688 per depositary share announced, showing strong returns for shareholders.

Negative

• None.

News Market Reaction – FRME

+3.19%

+3.19% Session move

In the trading session that priced this news, FRME gained 3.19%, reflecting a moderate 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., April 20, 2022 (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, 2022, to stockholders of record on April 30, 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

SOURCE: First Merchants Corporation (NASDAQ: FRME), Muncie, Indiana

FAQ

What is the dividend amount declared by First Merchants Corporation for FRMEP?

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

When will the dividend for FRMEP be paid?

The dividend will be paid on May 15, 2022.

What is the record date for the dividend payment for FRMEP?

The record date for the dividend payment is April 30, 2022.

What symbol is used for First Merchants Corporation's preferred stock?

The preferred stock is traded under the symbol FRMEP.

What is the dividend yield for First Merchants' preferred stock?

The dividend yield is 7.50%.