Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO) Announces Special Dividend of $0.01

Key Points

• Farmers & Merchants Bancorp declared a $0.01 special dividend payable October 20 to shareholders of record on October 9; the ex-dividend date is also October 9.
• The company has raised its dividend for 19 consecutive years, with a 40.7% payout ratio and an expected future payout ratio of 28.9%, indicating continued earnings coverage.
• FMAO shares opened at $34.71, while the bank’s latest quarterly results exceeded expectations with $0.86 in EPS versus the $0.67 consensus and revenue of $34.35 million.

Farmers & Merchants Bancorp Inc. (NASDAQ:FMAO - Get Free Report) declared a special dividend on Tuesday, September 29th. Shareholders of record on Friday, October 9th will be paid a dividend of $0.01 per share by the financial services provider on Tuesday, October 20th. The ex-dividend date is Friday, October 9th.

Farmers & Merchants Bancorp has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 19 years. Farmers & Merchants Bancorp has a payout ratio of 40.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Farmers & Merchants Bancorp to earn $3.18 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 28.9%.

Farmers & Merchants Bancorp Trading Down 0.7%

Shares of NASDAQ:FMAO opened at $34.71 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. Farmers & Merchants Bancorp has a 12-month low of $22.77 and a 12-month high of $36.12. The business has a 50 day moving average of $34.38 and a two-hundred day moving average of $30.05. The company has a market capitalization of $478.06 million, a PE ratio of 11.93 and a beta of 0.80.

Farmers & Merchants Bancorp (NASDAQ:FMAO - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.19. The business had revenue of $34.35 million for the quarter, compared to analysts' expectations of $33.05 million. Farmers & Merchants Bancorp had a net margin of 20.27% and a return on equity of 10.72%. As a group, analysts forecast that Farmers & Merchants Bancorp will post 3.05 EPS for the current year.

About Farmers & Merchants Bancorp

Farmers & Merchants Bancorp, Inc is a bank holding company headquartered in Archbold, Ohio. Its principal subsidiary, Farmers & Merchants Bank, is a community bank that provides financial services to individuals, families, farmers, and businesses.

The bank offers deposit accounts, residential and commercial real estate lending, consumer loans, agricultural financing, commercial loans, and other credit products. It also provides online and mobile banking, treasury management, trust and investment services, and other financial solutions designed to support personal and business banking needs.

Farmers & Merchants Bank traces its history to 1897 and serves communities primarily in northwest Ohio and southeast Michigan through its branch network and digital banking channels.

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