Trailing Dividend / Share
$0.88
Farmers & Merchants Bancorp, Inc. (FMAO) Dividend History
Income profile from 1997 to 2026 with payout safety and yield-on-cost trend
Dividend Yield
3.1%
Payout Ratio
36.3%
Sustainable
Dividend Streak
24 years
FMAO Dividend Income Check
Safety
36.3% payout ratio with sustainable safety profile.
Consistency
24 straight years of dividend increases.
Income Trend
Yield on cost is 3.9% and trend is rising.
FMAO Dividend Scorecard
Yield & Income
Dividend Yield3.1%
Trailing DPS$0.88
FrequencyAnnual
Payments / 12M4
Payout Safety
Earnings Payout36.3%
Earnings SafetySustainable
FCF Payout34.1%
FCF SafetyWell Covered
Piotroski F-Score8/9
Growth
Growth Streak24 years
3Y CAGR3.4%
5Y CAGR6.4%
Yield on Cost (5Y)3.9%
YOC Trendrising
Total Returns
Buyback Yield0.1%
Total Shareholder Yield3.2%
1Y Total Return23.8%
5Y Total Return51.7%
Div Contribution (5Y)19.3%
Estimated $10K growth (return + dividends):
5Y ago$15,17010Y ago$25,14320Y ago$35,760
Uses precomputed total return metrics from screening data (not lot-by-lot dividend reinvestment transactions). Different time windows can produce different outcomes depending on market regime and entry point.
FMAO Income Growth Story
Dividend per share and yield on cost over time (30 years of payments)
FMAO Dividend Safety Story
EPS is the container — dividend is what's drawn out
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Monthly dividend calendar — upcoming ex-dates for stocks you follow.
Dividend Analysis
Payout Safety
Farmers & Merchants Bancorp, Inc. distributes 36.3% of earnings as dividends (Sustainable). When measured against free cash flow—a stricter test—the payout ratio stands at 34.1%, rated "Well Covered".
Piotroski F-Score: 8/9 — strong financial health.
Growth Track Record
FMAO has raised its dividend for 24 consecutive years, with a 3-year CAGR of 3.4% and 5-year CAGR of 6.4%.
Total Shareholder Returns
Beyond cash dividends, FMAO returns capital through share repurchases. The combined picture: 3.1% dividend yield, 0.1% buyback yield, 3.2% total shareholder yield.
Income Trend & Total Return
Yield on cost (5-year basis) has reached 3.9% and is currently rising. The 5-year total return is 51.7%, with dividends contributing 19.3% of that performance.
DRIP Growth
A $10,000 investment made 10 years ago with dividends reinvested would have grown to approximately $25,143 today.
FMAO Recent Dividend Payments
Last 20 payments · Annual
TTM Total$4.22
Avg/Payment$0.2108
| Ex-Date | Amount | Change | Yield % | Payment Date |
|---|---|---|---|---|
| Apr 2, 2026Latest | $0.2300 | — | 3.51% | Apr 20, 2026 |
| Dec 29, 2025 | $0.2300 | ↑ +1.1% | 3.60% | Jan 20, 2026 |
| Oct 10, 2025 | $0.2275 | ↑ +2.8% | 3.82% | Oct 20, 2025 |
| Jul 7, 2025 | $0.2213 | — | 3.38% | Jul 20, 2025 |
| Apr 4, 2025 | $0.2213 | — | 3.93% | Apr 20, 2025 |
| Dec 27, 2024 | $0.2213 | — | 3.09% | Jan 20, 2025 |
| Oct 4, 2024 | $0.2213 | ↑ +0.6% | 3.38% | Oct 20, 2024 |
| Jul 5, 2024 | $0.2200 | — | 4.09% | Jul 20, 2024 |
FMAO Dividend vs Peers
Comparable companies in the same industry
#2 yield in peer group
Div Yield
3.1%
#2 of 9
Safety
Sustainable
36.3% payout
Streak
24Y
6.4% 5Y CAGR
Total Shareholder
3.2%
#4 of 9
| Company | Mkt Cap | Yield | Payout | Streak | Safety |
|---|---|---|---|---|---|
2nd FMAOFarmers & Merchants … | $396M | 3.1% | 36.3% | 24 | Sustainable |
 CZWICitizens Community B… | $205M | 1.7% | 25.0% | 6 | Sustainable |
3rd  MVBFMVB Financial Corp. | $355M | 2.4% | 32.3% | 0 | Sustainable |
1st  HFWAHeritage Financial C… | $949M | 3.4% | 48.3% | 5 | Sustainable |
 OVBCOhio Valley Banc Cor… | $227M | 1.9% | 27.5% | 3 | Sustainable |
 FXNCFirst National Corpo… | $265M | 2.1% | 31.2% | 11 | Sustainable |
 CFFIC&F Financial Corpor… | $255M | 2.3% | 22.2% | 1 | Sustainable |
 FFINFirst Financial Bank… | $4.7B | 2.3% | 41.8% | 15 | Sustainable |
 FBIZFirst Business Finan… | $503M | 2.0% | 19.2% | 13 | Sustainable |
FMAO Annual Dividend History (1997–2026)
30 years of dividend data
GrowthDecline
| Year | DPS | YoY | Pmts | EPS | Payout | Coverage | YOC |
|---|---|---|---|---|---|---|---|
| 2026YTD | $0.23 | — | 1 | — | — | — | 1.0% |
| 2025 | $0.90 | 2.0% | 4 | $3.41 | 26.4% | 3.79x | 3.9% |
| 2024 | $0.88 | 3.8% | 4 | $1.90 | 46.4% | 2.15x | 3.8% |
| 2023 | $0.85 | 4.6% | 4 | $1.67 | 50.9% | 1.96x | 3.7% |
| 2022 | $0.81 | 14.5% | 4 | $2.46 | 33.0% | 3.03x | 3.5% |
| 2021 | $0.71 | 7.6% | 4 | $2.01 | 35.3% | 2.83x | 3.1% |
| 2020 | $0.66 | 8.2% | 4 | $1.80 | 36.7% | 2.73x | 2.9% |
| 2019 | $0.61 | 8.9% | 4 | $1.66 | 36.7% | 2.72x | 2.6% |
| 2018 | $0.56 | 12.0% | 4 | $1.61 | 34.8% | 2.88x | 2.4% |
| 2017 | $0.50 | -27.0% | 4 | $1.38 | 36.2% | 2.76x | 2.2% |
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
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Historical Returns
29+ years return with dividends reinvested.
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DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
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FMAO — Frequently Asked Questions
Quick answers to the most common questions about buying FMAO stock.
How much dividend does FMAO pay per share?
Farmers & Merchants Bancorp, Inc. (FMAO) pays a trailing 12-month dividend of $0.88 per share, with a current dividend yield of +3.1%. Payments are made Annual.
When is FMAO's next ex-dividend date?
FMAO's most recent ex-dividend date is N/A. You must own shares before the ex-dividend date to receive the next payment. FMAO typically pays dividends Annual.
Is FMAO's dividend safe?
FMAO's dividend safety is rated "Sustainable" based on an earnings payout ratio of +36.3% and FCF payout ratio of +34.1%. With 24 consecutive years of dividend growth, the track record supports sustainability.
Is FMAO a Dividend Achiever?
Yes, Farmers & Merchants Bancorp, Inc. is classified as a Dividend Achiever with 24 consecutive years of dividend increases. The 5-year dividend CAGR is +6.4%, demonstrating above-inflation dividend growth.
How often does FMAO pay dividends?
Farmers & Merchants Bancorp, Inc. pays dividends Annual. The trailing 12-month total is $0.88 per share. Dividend data on this page covers 29+ years from 1997 to 2026.
How much would $10,000 invested in FMAO grow with dividend reinvestment?
With dividends reinvested (DRIP), $10,000 invested in FMAO five years ago would be worth approximately $15,170 today. This includes both price appreciation and compounded dividend reinvestment. Use the DRIP calculator above for other time periods.
What is FMAO's yield on cost for long-term holders?
FMAO's yield on cost — the current dividend divided by the original purchase price — is +3.9% for a 5-year holding period. This means long-term holders earn a higher effective yield than today's +3.1% market yield, thanks to consistent dividend growth.