FMAO - Farmers & Merchants Bancorp Inc. Raises the 2023 Fourth Quarter Cash Dividend by 4.8% Year-over-Year to $0.22 per share | Benzinga
ARCHBOLD, Ohio, Dec. 19, 2023 (GLOBE NEWSWIRE) -- 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 ...