Farmers and Merchants Bancshares, Inc. Declares Cash Dividend of $.31 Per Share

Rhea-AI Summary

Farmers and Merchants Bancshares declared a cash dividend of $.31 per share, payable on June 24, 2022, to shareholders of record by June 3, 2022. This dividend is $.02 greater than the previous one paid in December 2021, representing the 25th consecutive increase or stable dividend since June 2010. The bank, chartered in Maryland since 1919, serves consumers and businesses in various counties and is traded under the symbol FMFG.

Positive

• Dividend increased to $.31 per share, up from $.29, benefiting shareholders.
• 25 consecutive dividend declarations have either increased or remained steady since June 2010, indicating strong financial management.

Negative

• None.

HAMPSTEAD, Md., May 17, 2022 (GLOBE NEWSWIRE) --  On May 16, 2022, the Board of Directors of Farmers and Merchants Bancshares, Inc., the parent of Farmers and Merchants Bank, declared a cash dividend of $.31 per share of common stock, which will be paid on June 24, 2022 to shareholders of record on June 3, 2022. The $.31 per share dividend is $.02 greater than the most recent dividend paid in December 2021. The semi-annual dividend has increased or remained the same compared to the previous dividend 25 consecutive times, starting with the June 2010 dividend.

Please visit the investor relations section of the Bank’s website, www.fmb1919.bank. It includes press releases, financial information, stock information, peer analysis, and information about Farmers and Merchants Bancshares, Inc. officers and directors.

Farmers and Merchants Bancshares, Inc. is a financial holding company and the parent of Farmers and Merchants Bank. Farmers and Merchants Bank was chartered in Maryland in 1919 and has over 100 years of service to the community. The Bank serves the deposit and financing needs of both consumers and businesses in Carroll and Baltimore Counties along the Route 30, Route 795, Route 140, and Route 26 corridors. The main office is located in Upperco, Maryland, with nine additional branches in Owings Mills, Hampstead, Greenmount, Reisterstown, Westminster, and Eldersburg. Certain broker-dealers make a market in the common stock of Farmers and Merchants Bancshares, Inc., and trades are reported through the OTC Markets Group’s Pink Market under the symbol “FMFG”.

FAQ

What is the dividend amount declared by Farmers and Merchants Bancshares?

The declared dividend amount is $.31 per share.

When will the dividend be paid to shareholders of Farmers and Merchants Bancshares?

The dividend will be paid on June 24, 2022.

What date is the record for shareholders to receive the dividend from Farmers and Merchants Bancshares?

Shareholders must be on record by June 3, 2022, to receive the dividend.

How long has Farmers and Merchants Bancshares been increasing its dividend?

The company has increased or maintained its dividend for 25 consecutive periods since June 2010.

Under what stock symbol is Farmers and Merchants Bancshares traded?

Farmers and Merchants Bancshares is traded under the symbol FMFG.