FirstMerit (NASDAQ:FMER)is getting ready to dispense a pair of shareholder payouts. The company has declared dividends on both its common and Series A preferred stock. For the former, the distribution will be $0.16 per share paid on September 16 to shareholders of record as of August 26. That amount matches all of the financial services firm's preceding distributions stretching back to December 2009.
The company's Series A preferred stockholders will receive $14.69 per share, or $0.36725 per depositary share. The payment date for the disbursement is November 4, and the record date is October 18.
The just-declared common stock dividend annualizes to $0.64 per share. That yields 2.8% at FirstMerit's most recent closing price of $22.69.
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.