First Merchants Co. Plans Quarterly Dividend of $0.47 (NASDAQ:FRMEP)

First Merchants Co. (NASDAQ:FRMEP) announced a quarterly dividend on Tuesday, April 15th, Wall Street Journal reports. Shareholders of record on Wednesday, April 30th will be paid a dividend of 0.4688 per share on Thursday, May 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date of this dividend is Wednesday, April 30th.

First Merchants Price Performance

Shares of FRMEP remained flat at $25.05 during midday trading on Tuesday. The stock had a trading volume of 103 shares, compared to its average volume of 1,419. First Merchants has a 1-year low of $23.38 and a 1-year high of $25.90. The stock’s 50-day moving average is $25.22 and its two-hundred day moving average is $25.46.

About First Merchants

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. The company offers a range of financial services, including time, savings, and demand deposits; and consumer, commercial, agri-business, public finance, and real estate mortgage loans.