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Farmers and Merchants declare cash dividend

Farmers and Merchants declare cash dividend

On Nov. 19, the Board of Directors of Farmers and Merchants Bancshares, Inc., the parent of Farmers and Merchants Bank, declared a cash dividend of 43 cents per share of common stock, which was paid Dec. 21 to shareholders of record on Dec. 7. The dividend is a 3-cent increase over the per share dividend paid in June. The semi-annual dividend has increased 18 consecutive times, starting with the June 2010 dividend. The combined 2018 dividend of 83 cents per share represents a 2.6 percent yield on the current market value of $32.15 per share and represents a 9.2 percent increase over the 76 cents per share dividend paid in 2017. The annual dividend has increased by at least 5 cents per share for six consecutive years.

Farmers and Merchants Bancshares Inc. was formed in August 2016 to operate as a bank holding company with Farmers and Merchants Bank as its wholly-owned subsidiary. The bank's main office is in Upperco, with additional branches in Owings Mills, Hampstead, Greenmount, Reisterstown and Westminster.

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