Farmers & Merchants Bancorp raised its regular quarterly dividend to 24 cents per share and added a one-time cent for America's 250th anniversary. The combined payment is due October 20, 2026.
On September 29, Farmers & Merchants Bancorp set its regular quarterly dividend at 24 cents per share, up one cent from the previous payment. The increase is 4.3%. The 32-year run continues.
Shareholders of record on October 9 are scheduled to receive the combined 25-cent payment on October 20, 2026. The regular increase adds four cents to the annual dividend rate. The extra cent is a one-time payment, not part of that recurring increase.
The company said its annualized dividend growth has been about 109% over the past decade.
That distinction matters. Investors should not treat the full 25 cents as a new quarterly rate. Only the regular 24-cent dividend carries forward under the board's announcement. The company says the extra cent marks the national anniversary and is a one-time payment.
Farmers & Merchants Bancorp is the holding company for F&M Bank. It reported total assets of $3.50 billion as of June 30, 2026. The company says it has paid a quarterly dividend for more than 50 years and raised its annual dividend for 32 consecutive years. CEO Lars B. Eller tied the latest increase to the bank's financial performance, capital position and shareholder-return strategy. He also said the annualized dividend had grown about 109% over the past decade.
History is not coverage. A long run of increases does not show on its own whether a payout is affordable today or predict future increases. The announcement gives no earnings, cash-flow or payout-ratio figures to help assess dividend coverage. The stated asset size and management's view of the bank's capital position offer context, but they do not fully measure the resources available for distributions.
Farmers & Merchants Bancorp reported total assets of $3.50 billion as of June 30, 2026, providing a dated snapshot of the company's scale alongside its dividend announcement.
Dividend decisions also depend on the business behind them. A separate dividend case linked a payout increase at First American to subdued housing activity. The comparison does not show that F&M faces the same risk. It shows why a higher dividend alone cannot describe a company's earnings outlook.
For shareholders, the figures are straightforward: the regular payment is 24 cents per share, the anniversary addition is one cent, and both are due on the announced October date for eligible holders. The total cash received depends on the number of shares owned. The announcement gives no share price to use in calculating a dividend yield. A dividend is one part of an investment's return, not a measure of its full performance. F&M's long record and modest increase make this a tangible shareholder distribution. For assessing the ongoing dividend commitment, the relevant figure is the recurring 24-cent payment, not the temporary 25-cent total.
