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First Merchants Corporation (FRME) will raise its quarterly dividend from $0.08  to $0.11 per share.

The new dividend is payable on June 9, 2015 to shareholders of record on May 6, 2016.

First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation is comprised of First Merchants Bank, which also operates as Lafayette Bank & Trust, and First Merchants Private Wealth Advisors which operates as a division of First Merchants Bank.