GRAND RAPIDS, Mich.,
April 21, 2020 /PRNewswire/
-- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile")
announced today that on April 16,
2020, its Board of Directors declared a regular quarterly
cash dividend of $0.28 per common
share, payable on June 17, 2020, to
holders of record as of June 5,
2020.
"We are pleased that our sustained financial strength allowed us
to once again reward shareholders with a competitive dividend
yield," said Robert B. Kaminski,
Jr., President and Chief Executive Officer of
Mercantile. "We are carefully monitoring the potential
impacts of the COVID-19 pandemic. As always, we remain
committed to providing our shareholders with a meaningful cash
return, and will seek to do so within the context of good capital
management. Should circumstances warrant, we may elect to
adjust future dividends to preserve capital for lending and other
purposes."
About Mercantile Bank Corporation
Based in
Grand Rapids, Michigan, Mercantile
Bank Corporation is the bank holding company for Mercantile Bank of
Michigan. Mercantile provides banking services to businesses,
individuals and governmental units, and differentiates itself on
the basis of service quality and the expertise of its banking
staff. Mercantile has assets of approximately $3.6 billion and operates 40 banking
offices. Mercantile Bank Corporation's common stock is listed
on the NASDAQ Global Select Market under the symbol "MBWM."
Forward-Looking Statements
This news release contains
comments or information that may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Any such comments are based on current
expectations that involve a number of risks and uncertainties.
Actual results may differ materially from the results expressed in
forward-looking statements. Factors that might cause such a
difference include changes in interest rates and interest rate
relationships; demand for products and services; the degree of
competition by traditional and nontraditional competitors; changes
in banking regulation or actions by bank regulators; changes in tax
laws; changes in prices, levies, and assessments; the impact of
technological advances; governmental and regulatory policy changes;
the outcomes of contingencies; trends in customer behavior as well
as their ability to repay loans; changes in local real estate
values; changes in the national and local economies, including the
significant disruption to financial market and other economic
activity caused by the outbreak of COVID-19; and other factors,
including risk factors, disclosed from time to time in filings made
by Mercantile with the Securities and Exchange Commission.
Mercantile undertakes no obligation to update or clarify
forward-looking statements, whether as a result of new information,
future events or otherwise.
FOR FURTHER INFORMATION:
AT MERCANTILE BANK CORPORATION:
Robert B.
Kaminski, Jr.
|
Charles
Christmas
|
President
& CEO
|
Executive Vice
President & CFO
|
616-726-1502
|
616-726-1202
|
rkaminski@mercbank.com
|
cchristmas@mercbank.com
|
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SOURCE Mercantile Bank Corporation