MUNCIE, Ind. - First Merchants (NASDAQ:FRME) Corporation (NASDAQ:FRME), a financial holding company based in Indiana, has declared a cash dividend of $0.35 per share, payable on June 21, 2024, to shareholders of record as of June 7, 2024. The ex-date for broker trading has been set for June 6, 2024.
The company, which operates under one full-service bank charter, First Merchants Bank, and includes First Merchants Private Wealth Advisors as a division of the bank, continues to provide shareholder value through regular dividends. First Merchants Corporation's stock is traded on the NASDAQ Global Select Market System, where daily quotations are available.
This dividend announcement follows the company's history of consistent shareholder returns and reflects its ongoing financial performance. The declared dividend is part of First Merchants Corporation's commitment to providing returns to its investors.
This information is based on a press release statement from First Merchants Corporation.
InvestingPro Insights
First Merchants Corporation (NASDAQ:FRME) continues to demonstrate its commitment to shareholder returns, as evidenced by its recent dividend declaration. In light of this, InvestingPro provides valuable insights into the company's financial health and future outlook.
With a market capitalization of $2.07 billion and a Price/Earnings (P/E) ratio of 10.2, which adjusts slightly to 10.08 in the last twelve months as of Q1 2024, First Merchants stands as a potentially attractive investment based on valuation metrics. Moreover, the company boasts a notable dividend yield of 3.84%, which is supported by a history of dividend growth, including a 6.25% increase in the last twelve months as of Q1 2024.
InvestingPro Tips highlight two key aspects of First Merchants Corporation's investment profile. Firstly, the company has a high shareholder yield, which is a testament to its ability to return value to its investors.
Secondly, First Merchants has not only maintained but raised its dividend for an impressive 36 consecutive years, signaling a strong and stable financial position. However, investors should be aware that 4 analysts have revised their earnings expectations downwards for the upcoming period, which could indicate potential headwinds for the company.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available that provide further insights into First Merchants Corporation's financial performance and projections. To access these valuable tips and make more informed investment decisions, visit https://www.investing.com/pro/FRME and use the exclusive coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are a total of 8 InvestingPro Tips available for First Merchants Corporation, offering a comprehensive view of the company's financial landscape.
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