MBWM's Dividend Pay out Ratio	(Jun 30 2026) II. Quarter	(Mar 31 2026) I. Quarter	(Dec 31 2025) IV. Quarter	(Sep 30 2025) III. Quarter	(Jun 30 2025) II. Quarter
Earnings per Share	$ 1.5	$ 1.32	$ 1.41	$ 1.46	$ 1.39
Dividend	$ 0.39	$ 0.39	$ 0.38	$ 0.38	$ 0.37
Pay out Ratio	26 %	29.55 %	26.95 %	26.03 %	26.62 %

Dividend Pay out Ratio Comment

Due to increase of eps by 7.91% year on year, Mercantile Bank's dividend pay out ratio fell to 26%.

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