Farmers & Merchants Bancorp, Inc. Raises the 2020 Third-Quarter Cash Dividend Payment by 6.3% to $0.17 per share
September 18, 2020 at 11:04 AM EDT
ARCHBOLD, Ohio, Sept. 18, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of Farmers & Merchants Bancorp, Inc., (Nasdaq: FMAO) the holding company of The Farmers & Merchants State Bank, with assets of $1.8 billion at June 30, 2020, today announced that it has approved a 6.3% increase in the Company’s quarterly cash dividend.
The new cash dividend has been raised to $0.17 per share from the previous dividend of $0.16 and represents the 26th consecutive annual increase in the Company’s regular dividend payment since 1994. The third quarter dividend is payable on October 20, 2020, to shareholders of record as of September 29, 2020.
Lars B. Eller, President and Chief Executive Officer stated: “F&M’s strong financial position has allowed us to support our communities, customers, and employees throughout the COVID-19 pandemic. As we navigate this challenging period, we believe it is also important to support our shareholders by increasing our quarterly dividend payment. I am proud of our recent operating and financial accomplishments as well as our commitment to create long-term value for shareholders.”
About Farmers & Merchants Bancorp, Inc
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