The board of directors approved the hike from the previous distribution of $0.10 per share. This adjustment brings the annualized payout to $0.44 per share, representing a dividend yield of approximately 1% based on the stock’s closing price of $45.05 on Thursday.
According to the bank holding company, the dividend is scheduled for payment on April 1 to stockholders of record as of the close of business on March 13. The move signals management's confidence in the firm's balance sheet and cash flow stability.
Based in Carmel, Indiana, Merchants Bancorp operates as a diversified financial services firm with a focus on multi-family housing finance and mortgage warehousing. The company stated the increase reflects its ongoing commitment to disciplined capital management.
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