FirstMerit (NASDAQ:FMER) is sliding a few bills across the counter in the form of dividends. The financial services company will pay a quarterly distribution of $0.16 per share of its common stock on June 17 to shareholders of record as of May 28. This amount is in line with each of FirstMerit's previous 14 quarterly disbursements stretching back to late 2009.
Holders of the firm's 5.87% series A preferred stock will also be rewarded. They are to be paid $14.69 per regular share, or $0.36725 per depository share, on August 5, provided that they are the holders of record as of July 19.
The common stock dividend annualizes to $0.64 per share. That yields 3.6% at FirstMerit's most recent closing stock price of $17.95.
Fool contributor Eric Volkman has no position in FirstMerit. The Motley Fool owns shares of FirstMerit. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.