Farmers & Merchants Bancorp, Inc. Raises the 2023 Fourth Quarter Cash Dividend by 4.8% Year-over-Year to $0.22 per share
20 12월 2023 - 6:45AM
The Board of Directors of Farmers & Merchants Bancorp, Inc.,
(Nasdaq: FMAO) the holding company of F&M Bank, with total
assets of $3.235 billion at September 30, 2023, today announced
that it has approved a 4.8% year-over-year increase in the
Company’s quarterly cash dividend.
The new cash dividend has been raised to $0.22
per share from the previous dividend of $0.21 per share for the
same period last year. This represents the 29th consecutive annual
increase in the Company’s regular dividend payment since 1994. The
fourth-quarter dividend is payable on January 20, 2024, to
shareholders of record as of December 29, 2023.
Lars B. Eller, President and Chief Executive
Officer stated, “F&M is committed to returning capital back to
shareholders through its long-standing dividend program, which is a
testament to our strong financial results and the value we provide
our communities. With 29 consecutive years of annual dividend
increases, I am proud that F&M has established one of the
longest track records of consecutive dividend increases for
publicly traded banks.”
About Farmers & Merchants State
Bank:Farmers & Merchants Bancorp, Inc. (Nasdaq: FMAO)
is the holding company of F&M Bank, a local independent
community bank that has been serving its communities since 1897.
F&M Bank provides commercial banking, retail banking and other
financial services. Our locations are in Butler, Champaign, Fulton,
Defiance, Hancock, Henry, Lucas, Shelby, Williams, and Wood
counties in Ohio. In Northeast Indiana, we have offices located in
Adams, Allen, DeKalb, Jay, Steuben and Wells counties. The Michigan
footprint includes Oakland County, and F&M has Loan Production
Offices in West Bloomfield, Michigan; Muncie, Indiana; and Bryan,
Ohio
Safe harbor statementFarmers
& Merchants Bancorp, Inc. (“F&M”) wishes to take advantage
of the Safe Harbor provisions included in the Private Securities
Litigation Reform Act of 1995. Statements by F&M, including
management’s expectations and comments, may not be based on
historical facts and are “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21B of the Securities Exchange Act of 1934, as amended.
Actual results could vary materially depending on risks and
uncertainties inherent in general and local banking conditions,
competitive factors specific to markets in which F&M and its
subsidiaries operate, future interest rate levels, legislative and
regulatory decisions, capital market conditions, or the effects of
the COVID-19 pandemic, and its impacts on our credit quality and
business operations, as well as its impact on general economic and
financial market conditions. F&M assumes no responsibility to
update this information. For more details, please refer to
F&M’s SEC filing, including its most recent Annual Report on
Form 10-K and quarterly reports on Form 10-Q. Such filings can be
viewed at the SEC’s website, www.sec.gov or through F&M’s
website www.fm.bank.
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Company
Contact: |
Investor and Media
Contact: |
Lars B. EllerPresident and Chief
Executive Officer Farmers & Merchants Bancorp, Inc.(419)
446-2501 leller@fm.bank |
Andrew M. BergerManaging
DirectorSM Berger & Company, Inc. (216)
464-6400andrew@smberger.com |
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