Farmers & Merchants Bancorp announced on November 13, 2024, that its Board of Directors declared a year-end cash dividend of $9.30 per share. This represents a 5.68% increase over the cash dividends declared in May 2024 and November 2023.
The increased dividend will be payable on January 2, 2025, to shareholders of record as of December 4, 2024. Total cash dividends declared in 2024 increased by 5.85% to $18.10 per share, compared with $17.10 declared in 2023.
This dividend increase is supported by the company's strong financial performance, including net income of $22.1 million for the third quarter of 2024. The company also reported repurchasing 47,989 shares, or $45.4 million, year-to-date through October 31, 2024, further concentrating shareholder ownership.
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