FARMERS AND MERCHANTS BANCSHARES, INC. DECLARES CASH DIVIDEND OF $.32 PER SHARE

Rhea-AI Summary

The Board of Directors of Farmers and Merchants Bancshares has declared a cash dividend of $.32 per share, payable on December 16, 2022, to shareholders of record by December 2, 2022. This marks a 10.5% increase over the $.57 dividend from 2021, reflecting a 3.0% yield based on the market price of $.20.75 per share. The annual dividend has now increased for 12 consecutive years, showcasing the company’s commitment to returning value to its shareholders.

Positive

• Cash dividend declared at $.32 per share representing a 10.5% increase over the previous year.
• Annual dividend has increased for 12 consecutive years, showcasing consistent growth.

Negative

• None.

HAMPSTEAD, Md., Nov. 22, 2022 (GLOBE NEWSWIRE) -- On November 21, 2022, the Board of Directors of Farmers and Merchants Bancshares, Inc., the parent of Farmers and Merchants Bank, declared a cash dividend of $.32 per share of common stock, which will be paid on December 16, 2022 to shareholders of record on December 2, 2022. The $.32 per share dividend is $.01 greater than the most recent dividend paid in June 2022. The combined 2022 dividend of $.63 per share represents a 3.0% yield on the current market value of $20.75 per share and represents a 10.5% increase over the $.57 per share dividend paid in 2021. The annual dividend has increased for 12 consecutive years.

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 seven 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 for FMFG in 2022?

Farmers and Merchants Bancshares has declared a dividend of $.32 per share for 2022.

When will the FMFG dividend be paid?

The dividend will be paid on December 16, 2022.

What date must I hold shares of FMFG to receive the dividend?

You must hold shares by December 2, 2022, to qualify for the dividend.

How has the FMFG dividend changed compared to last year?

The 2022 dividend of $.32 represents a 10.5% increase from the $.57 dividend paid in 2021.

What is the yield of the FMFG dividend?

The dividend yield for FMFG is 3.0% based on the current market value of $20.75 per share.