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

First Merchants Co. (NASDAQ:FRMEP) declared a quarterly dividend on Thursday, January 16th,Wall Street Journal reports. Investors of record on Friday, January 31st will be paid a dividend of 0.4688 per share on Saturday, February 15th. This represents a $1.88 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date is Friday, January 31st.

First Merchants Stock Performance

FRMEP traded down $0.08 during trading hours on Thursday, hitting $25.58. 414 shares of the stock were exchanged, compared to its average volume of 816. The stock has a 50-day simple moving average of $25.56 and a 200-day simple moving average of $25.44. First Merchants has a 12 month low of $23.38 and a 12 month high of $26.43.

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.