Merrill Merchants Bancshares, Inc. Declares a 3% Stock Dividend and an Increase in Cash Dividend of 17%
17 March 2006 - 9:20AM
Business Wire
Edwin N. Clift, Chairman and Chief Executive Officer of Merrill
Merchants Bancshares, Inc. (the "Company") (NASDAQ:MERB), the
parent company of Merrill Merchants Bank, announced that the
Company has declared a 3% stock dividend to all shareholders of
record as of March 31, 2006, for distribution on April 7, 2006. Mr.
Clift stated, "This is the eleventh consecutive year the Company
has paid a stock dividend. Providing a return to our shareholders
remains a top priority for the Company." In addition, the Company
has declared a cash dividend of $.17 per share on the Company's
common stock for the first quarter of 2006. This is an increase of
17% over last year's first quarter dividend. The cash dividend will
be payable to all shareholders of record as of April 14, 2006, and
will be paid on April 28, 2006. Mr. Clift also announced that
Merrill Merchants Bancshares, Inc. has scheduled the 2006 Annual
Meeting of Shareholders to be held Thursday, May 4, 2006, at the
Bangor Motor Inn located at 701 Hogan Road, Bangor, Maine,
beginning at 5:00 p.m. The Company's subsidiary, Merrill Merchants
Bank is headquartered in Bangor, Maine. Merrill Merchants Bank
provides consumer, commercial, and trust and investment services
through its eleven locations in Central and Eastern Maine. The Bank
is a "Preferred Lender" of the Small Business Administration.
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