Farmers & Merchants Bancorp, Inc. Raises The 2023 Q4 Cash Dividend By 4.8% From $0.21 To $0.22 Per Share

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."