April 16 - Mercantile Bank Corp. (NASDAQ: MBWM) has declared a regular quarterly cash dividend of 11 cents per common share, payable June 10, 2013, to holders of record as of May 10, 2013. The 11 cents cash dividend represents an increase of 10 percent from the 10 cents cash dividend paid during the first quarter of 2013.
"We are pleased that our strong capital position and enhanced financial performance have afforded us the ability to grow the cash dividend once again," said Michael Price, chairman and CEO of Mercantile. "The increased dividend represents not only the confidence of our board of directors and management team in Mercantile's future, but is also another example of our sustained commitment to provide a meaningful return to shareholders."
About Mercantile Bank Corp.
Based in Grand Rapids, Mich., Mercantile Bank Corp. 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 Corp.'s common stock is listed on the NASDAQ Global Select Market under the symbol "MBWM."