First Merchants Corporation Announces Cash Dividend on Its Preferred Stock

Rhea-AI Summary

First Merchants Corporation has announced a quarterly cash dividend of $0.4688 per depositary share on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A, represented by depositary shares (NASDAQ: FRMEP). This dividend will be payable on May 15, 2023, to stockholders of record as of April 30, 2023. Investors should note that each depositary share represents a 1/100th interest in a share of Series A preferred stock. The corporation, based in Muncie, Indiana, operates First Merchants Bank and offers wealth advisory services. Its common stock is traded under the ticker FRME. Stay informed about future dividend announcements and company performance.

Positive

• Declared a quarterly cash dividend of $0.4688 per depositary share.
• Dividend reflects confidence in the company's financial performance.

Negative

• None.

MUNCIE, Ind., April 20, 2023 (GLOBE NEWSWIRE) -- First Merchants Corporation has declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A, represented by depositary shares (NASDAQ: FRMEP) each representing a 1/100th interest in a share of the Series A preferred stock. Holders of depositary shares will receive $0.4688 per depositary share. The dividend will be payable on May 15, 2023, to stockholders of record on April 30, 2023.

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. Depositary shares representing a 1/100th interest in a share of First Merchants Corporation’s 7.50% Non-Cumulative Perpetual Preferred Stock, Series A are traded on the NASDAQ Global Select Market System under the symbol FRMEP. 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 dividend amount declared by First Merchants Corporation?

The dividend amount declared is $0.4688 per depositary share.

When is the dividend for FRMEP payable?

The dividend will be payable on May 15, 2023.

What is the record date to receive the dividend for FRMEP?

The record date to receive the dividend is April 30, 2023.

What stock symbol represents First Merchants Corporation's preferred shares?

The preferred shares are represented by the stock symbol FRMEP.