Jan 15 - Mercantile Bank Corp., Grand Rapids, Mich., (NASDAQ: MBWM) has announced that on Jan. 10, 2013, its board of directors declared a regular quarterly cash dividend of 10 cents per common share, payable March 8, 2013, to holders of record as of Feb. 8, 2013. The 10 cents cash dividend represents an increase of 11 percent from the 9 cents cash dividend paid during the fourth quarter of 2012.
"The increased dividend is another example of our sustained commitment to provide a meaningful return to shareholders who continue to show their support for Mercantile," said Michael Price, chairman and CEO of Mercantile. "We are pleased that our strong financial condition and improved earnings performance have afforded us the ability to grow the cash dividend. The higher dividend payout highlights the continued confidence of our Board of Directors and management team in Mercantile's future."
About Mercantile Bank Corp.
Based in Grand Rapids, Mich., Mercantile Bank Corporation is the bank holding company for Mercantile Bank of Michigan. Founded in 1997 to provide banking services to businesses, individuals and governmental units, the Bank differentiates itself on the basis of service quality and the expertise of its banking staff. Mercantile has seven full-service banking offices in Grand Rapids, Holland and Lansing, Mich. Mercantile Bank Corporation's common stock is listed on the NASDAQ Global Select Market under the symbol "MBWM."