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First Merchants Corporation Announces Cash Dividend

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First Merchants Corporation announced a cash dividend of $0.34 per share, payable on March 15, 2024, to shareholders of record as of March 1, 2024. The ex-date of the cash dividend is February 29, 2024.
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Insights

The declaration of a cash dividend by First Merchants Corporation represents a tangible return on investment for shareholders. The dividend of $0.34 per share is a critical factor in the company's value proposition, signaling confidence in its current financial health and future earnings potential. Dividends often reflect a company's stable cash flow and commitment to returning value to shareholders. The key dates provided, including the ex-date, which is the date on which the stock starts trading without the value of its next dividend payment, are essential for investors to understand as they have direct implications on portfolio yields and the timing of investment decisions.

From a market perspective, the announcement of a dividend can influence investor sentiment and stock performance. Historically, consistent dividend payments are associated with mature, stable companies and can attract a particular investor demographic seeking regular income streams. The size and frequency of dividend payments can also be compared to industry benchmarks to assess the competitiveness of First Merchants Corporation within the financial sector. Additionally, the announcement may lead to a short-term increase in stock trading volume as investors position themselves before the ex-date.

The broader economic implications of a dividend declaration can be multifaceted. On a microeconomic level, it reflects corporate confidence, potentially indicative of a healthy banking sector and a resilient economy. On a macroeconomic scale, such distributions can influence monetary flow, affecting consumer spending and savings rates. It's important to note that while dividends are a sign of strength, they also mean that the company is choosing to distribute cash to shareholders rather than reinvesting it in potential growth opportunities, which could have varying long-term economic impacts.

MUNCIE, Ind., Feb. 07, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation declared a cash dividend on February 6, 2024 of $0.34 per share. The dividend is payable on March 15, 2024, to shareholders of record as of March 1, 2024. For purposes of broker trading, the ex-date of the cash dividend is February 29, 2024.

About First Merchants Corporation:

First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank).

First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. Quotations are carried in daily newspapers and can be found on the company’s Internet web page (http://www.firstmerchants.com).

FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.

For more information, contact:
Nicole M. Weaver, Vice President and Director of Corporate Administration
765-521-7619
http://www.firstmerchants.com


FAQ

What is the cash dividend declared by First Merchants Corporation?

First Merchants Corporation declared a cash dividend of $0.34 per share.

When is the cash dividend payable?

The cash dividend is payable on March 15, 2024.

Who are eligible to receive the cash dividend?

Shareholders of record as of March 1, 2024 are eligible to receive the cash dividend.

What is the ex-date of the cash dividend?

For broker trading purposes, the ex-date of the cash dividend is February 29, 2024.

First Merchants Corp

NASDAQ:FRME

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United States of America
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