Trailing Dividend / Share
$1.47
Mercantile Bank Corporation (MBWM) Dividend History
Income profile from 1993 to 2026 with payout safety and yield-on-cost trend
Dividend Yield
2.7%
Payout Ratio
27.0%
Sustainable
Dividend Streak
13 years
MBWM Dividend Income Check
Safety
27.0% payout ratio with sustainable safety profile.
Consistency
13 straight years of dividend increases.
Income Trend
Yield on cost is 5.6% and trend is rising.
MBWM Dividend Scorecard
Yield & Income
Dividend Yield2.7%
Trailing DPS$1.47
FrequencySemi-Annual
Payments / 12M4
Payout Safety
Earnings Payout27.0%
Earnings SafetySustainable
FCF Payout227.0%
FCF SafetyStretched
Piotroski F-Score4/9
Growth
Growth Streak13 years
3Y CAGR6.0%
5Y CAGR6.0%
Yield on Cost (5Y)5.6%
YOC Trendrising
Total Returns
Buyback Yield0.0%
Total Shareholder Yield2.7%
1Y Total Return26.9%
5Y Total Return104.1%
Div Contribution (5Y)23.2%
Estimated $10K growth (return + dividends):
5Y ago$20,41410Y ago$27,55020Y ago$20,579
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.
MBWM Income Growth Story
Dividend per share and yield on cost over time (34 years of payments)
MBWM Dividend Safety Story
EPS is the container — dividend is what's drawn out
Get MBWM's next ex-dividend date and payout in your inbox
Monthly dividend calendar — upcoming ex-dates for stocks you follow.
Dividend Analysis
Payout Safety
Mercantile Bank Corporation distributes 27.0% of earnings as dividends (Sustainable). When measured against free cash flow—a stricter test—the payout ratio stands at 227.0%, rated "Stretched".
Piotroski F-Score: 4/9 — moderate financial health.
Growth Track Record
MBWM has raised its dividend for 13 consecutive years, with a 3-year CAGR of 6.0% and 5-year CAGR of 6.0%.
Total Shareholder Returns
Beyond cash dividends, MBWM returns capital through share repurchases. The combined picture: 2.7% dividend yield, 2.7% total shareholder yield.
Income Trend & Total Return
Yield on cost (5-year basis) has reached 5.6% and is currently rising. The 5-year total return is 104.1%, with dividends contributing 23.2% of that performance.
DRIP Growth
A $10,000 investment made 10 years ago with dividends reinvested would have grown to approximately $27,550 today.
FCF payout is stretched — the dividend consumes a large share of free cash flow.
MBWM Recent Dividend Payments
Last 20 payments · Semi-Annual
TTM Total$6.90
Avg/Payment$0.3450
| Ex-Date | Amount | Change | Yield % | Payment Date |
|---|---|---|---|---|
| Jun 5, 2026Latest | $0.3900 | — | 2.92% | Jun 17, 2026 |
| Mar 6, 2026 | $0.3900 | ↑ +2.6% | 3.02% | Mar 18, 2026 |
| Dec 5, 2025 | $0.3800 | — | 3.22% | Dec 17, 2025 |
| Sep 5, 2025 | $0.3800 | ↑ +2.7% | 3.04% | Sep 17, 2025 |
| Jun 6, 2025 | $0.3700 | — | 3.28% | Jun 18, 2025 |
| Mar 7, 2025 | $0.3700 | ↑ +2.8% | 3.16% | Mar 19, 2025 |
| Dec 6, 2024 | $0.3600 | — | 2.81% | Dec 18, 2024 |
| Sep 6, 2024 | $0.3600 | ↑ +2.9% | 3.27% | Sep 18, 2024 |
MBWM Dividend vs Peers
Comparable companies in the same industry
#4 yield in peer group
Div Yield
2.7%
#4 of 9
Safety
Sustainable
27.0% payout
Streak
13Y
6.0% 5Y CAGR
Total Shareholder
2.7%
#9 of 9
| Company | Mkt Cap | Yield | Payout | Streak | Safety |
|---|---|---|---|---|---|
| MBWMMercantile Bank Corp… | $928M | 2.7% | 27.0% | 13 | Sustainable |
3rd  IBCPIndependent Bank Cor… | $706M | 3.0% | 31.5% | 11 | Sustainable |
 CZWICitizens Community B… | $205M | 1.7% | 25.0% | 6 | Sustainable |
 UVSPUnivest Financial Co… | $1.2B | 2.1% | 27.9% | 1 | Sustainable |
2nd  FITBFifth Third Bancorp | $35.3B | 3.3% | 46.1% | 15 | Sustainable |
1st  HBANHuntington Bancshare… | $26.7B | 3.6% | 41.1% | 0 | Sustainable |
 CBSHCommerce Bancshares,… | $8.0B | 2.0% | 26.5% | 8 | Sustainable |
 WTFCWintrust Financial C… | $10.4B | 1.6% | 20.6% | 12 | Sustainable |
 BOKFBOK Financial Corpor… | $7.9B | 1.9% | 25.5% | 21 | Sustainable |
MBWM Annual Dividend History (1993–2026)
34 years of dividend data
GrowthDecline
| Year | DPS | YoY | Pmts | EPS | Payout | Coverage | YOC |
|---|---|---|---|---|---|---|---|
| 2026YTD | $0.78 | — | 2 | — | — | — | 2.9% |
| 2025 | $1.50 | 5.6% | 4 | $5.46 | 27.5% | 3.64x | 5.6% |
| 2024 | $1.42 | 6.0% | 4 | $4.93 | 28.8% | 3.47x | 5.3% |
| 2023 | $1.34 | 6.3% | 4 | $5.13 | 26.1% | 3.83x | 5.0% |
| 2022 | $1.26 | 6.8% | 4 | $3.85 | 32.7% | 3.06x | 4.7% |
| 2021 | $1.18 | 5.4% | 4 | $3.69 | 32.0% | 3.13x | 4.4% |
| 2020 | $1.12 | 5.7% | 4 | $2.71 | 41.3% | 2.42x | 4.1% |
| 2019 | $1.06 | -36.9% | 4 | $3.01 | 35.2% | 2.84x | 3.9% |
| 2018 | $1.68 | 127.0% | 4 | $2.53 | 66.4% | 1.51x | 6.2% |
| 2017 | $0.74 | -36.2% | 4 | $1.90 | 38.9% | 2.57x | 2.7% |
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Check Valuation
Historical Returns
33+ years return with dividends reinvested.
Calculate
DCA Calculator
See how regular investing compounds over time.
Run Numbers
Peer Comparison
Compare growth, multiples, and margins vs sector.
Compare
MBWM — Frequently Asked Questions
Quick answers to the most common questions about buying MBWM stock.
How much dividend does MBWM pay per share?
Mercantile Bank Corporation (MBWM) pays a trailing 12-month dividend of $1.47 per share, with a current dividend yield of +2.7%. Payments are made Semi-Annual.
When is MBWM's next ex-dividend date?
MBWM's most recent ex-dividend date is N/A. You must own shares before the ex-dividend date to receive the next payment. MBWM typically pays dividends Semi-Annual.
Is MBWM's dividend safe?
MBWM's dividend safety is rated "Sustainable" based on an earnings payout ratio of +27.0% and FCF payout ratio of +227.0%. With 13 consecutive years of dividend growth, the track record supports sustainability.
Is MBWM a Dividend Achiever?
Yes, Mercantile Bank Corporation is classified as a Dividend Achiever with 13 consecutive years of dividend increases. The 5-year dividend CAGR is +6.0%, demonstrating above-inflation dividend growth.
How often does MBWM pay dividends?
Mercantile Bank Corporation pays dividends Semi-Annual. The trailing 12-month total is $1.47 per share. Dividend data on this page covers 33+ years from 1993 to 2026.
How much would $10,000 invested in MBWM grow with dividend reinvestment?
With dividends reinvested (DRIP), $10,000 invested in MBWM five years ago would be worth approximately $20,414 today. This includes both price appreciation and compounded dividend reinvestment. Use the DRIP calculator above for other time periods.
What is MBWM's yield on cost for long-term holders?
MBWM's yield on cost — the current dividend divided by the original purchase price — is +5.6% for a 5-year holding period. This means long-term holders earn a higher effective yield than today's +2.7% market yield, thanks to consistent dividend growth.