First Merchants Corporation (FRME) will raise its quarterly dividend by 22.2 percent to $0.22 per share in the second quarter of 2018. This marks the 7th year of dividend increases by FRME.

The dividend will go into effect June 15, 2018, to stockholders of record as of June 1, 2018. The new dividend yield is 2%.

Michael C. Rechin, President and Chief Executive Officer, said, "In recognition of our high performing results and record 2017, coupled with our confidence in the future of First Merchants, the Board has voted to increase the dividend.  The dividend increase demonstrates our commitment to returning capital to our shareholders while we continue to invest in strategic growth opportunities.”

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.