Is Mercantile Bank Corporation a good dividend stock?

Mercantile Bank Corporation (MBWM) is a dividend-paying stock with a current dividend yield of 2.67%. Review its dividend history, payout consistency and growth to judge whether it fits your income strategy.

What is MBWM's dividend yield?

The dividend yield for MBWM stock is currently 2.67%.

How much does MBWM pay in dividends per year?

Mercantile Bank Corporation pays an annual dividend of $1.5400 per share over the trailing twelve months.

How often does MBWM pay dividends?

MBWM stock pays dividends quarterly.

Is MBWM's dividend growing?

Mercantile Bank Corporation's 3-year dividend CAGR is 5.81%.

MBWM Stock Price, Chart, Stats & News

Mercantile Bank Corporation

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Overview Dividend safety Dividends Fundamentals

Mercantile Bank Corporation (MBWM) is a dividend-paying stock with a current dividend yield of 2.67% as of Jul 20, 2026. It pays $1.54 per share over the trailing twelve months and distributes quarterly. Its dividend has grown at a 6.20% 5-year compound annual rate.

996.04M

Market cap

10.35x

Current P/E

10.87x

Forward P/E

2.67%

Dividend yield

$1.54

MBWM dividend

Dividend safety

Strong

Dividend coverage looks healthy — MBWM pays out about 28% of earnings.

See the safety analysis

MBWM chart

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Fundamentals

Gross margin	64.03%
Operating margin	27.46%
Pretax margin	27.46%
Net margin	23.87%
Effective tax rate	13.07%
ROA	1.30%
ROE	13.54%
D/E	1.14x
Interest coverage ratio	0.79x

All financials

MBWM valuation

P/E	10.35x
P/S	2.29x
P/B	1.11x
P/CF	44.64x
P/FCF	76.02x
P/OCF	44.64x
PEG	2.65x
EV multiple	4.69x

About

Mercantile Bank Corporation serves as the parent holding company for Mercantile Bank of Michigan, providing a full spectrum of commercial and personal banking solutions to small and mid-sized businesses, as well as individual customers, across the United States. The institution facilitates a diverse range of deposit offerings, including checking, savings, term certificates, time deposits, and certificates of deposit (CDs). Its extensive lending portfolio encompasses commercial and industrial financing; loans for vacant land, property development, and new home construction; mortgages for both owner-occupied and investment real estate (such as multi-family and rental properties); single-family residential loans; home equity lines of credit (HELOCs); and various consumer loans, including funding for new and pre-owned vehicles, watercraft, credit cards, and overdraft protection, alongside residential mortgage and installment options.