FARMERS AND MERCHANTS BANCSHARES, INC. DECLARES CASH DIVIDEND OF $.33 PER SHARE

Rhea-AI Summary

Farmers and Merchants Bancshares, the parent company of Farmers and Merchants Bank, declared a cash dividend of $.33 per share on May 20, 2024. This dividend will be paid on June 21, 2024, to shareholders recorded by June 3, 2024. The dividend yields 4.1% annually based on the current market value of $16.25 per share. For more details, visit the investor relations section on their website.

Positive

• Cash dividend of $.33 per share declared.
• Dividend offers a 4.1% annual yield.
• Dividend payment date set for June 21, 2024.
• Shareholder record date set for June 3, 2024.

Negative

• No mention of revenue growth or profitability.
• No forward-looking statements or future business plans included.
• Dividend yield is dependent on current market value, which may fluctuate.

HAMPSTEAD, Md., May 21, 2024 (GLOBE NEWSWIRE) -- On May 20, 2024, the Board of Directors of Farmers and Merchants Bancshares, Inc., the parent of Farmers and Merchants Bank, declared a cash dividend on the common stock of $.33 per share, which will be paid on June 21, 2024 to stockholders of record on June 3, 2024. The dividend represents a 4.1% annual yield on the current market value of $16.25 per share.

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

About Farmers and Merchants Bancshares, Inc.

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 cash dividend declared by Farmers and Merchants Bancshares (FMFG)?

Farmers and Merchants Bancshares declared a cash dividend of $.33 per share.

When will FMFG pay the declared dividend?

The dividend will be paid on June 21, 2024.

What is the record date for FMFG dividend eligibility?

Shareholders must be recorded by June 3, 2024, to be eligible for the dividend.

What is the annual yield of the FMFG dividend?

The dividend offers a 4.1% annual yield based on the current market value of $16.25 per share.

What was the market value of FMFG per share when the dividend was declared?

The market value was $16.25 per share.