First Farmers and Merchants Corporation Declares 100th Cash Dividend
June 25 2024 - 4:12PM
Business Wire
Cash Dividend of $0.24 Per Share
Declared
First Farmers and Merchants Corporation (OTC Pink: FFMH), the
holding company for First Farmers and Merchants Bank, today
announced that its Board of Directors has declared the 100th cash
dividend paid to shareholders. The Company’s regular quarterly cash
dividend of $0.24 per share will be paid on July 22, 2024, to
shareholders of record as of July 8, 2024. The dividend represents
a 4.3% increase compared with the cash dividend paid during the
same period last year.
“We are pleased to announce the 100th cash dividend paid to
First Farmers’ shareholders,” stated Brian K. Williams, Chairman
and Chief Executive Officer of First Farmers. “Reaching this
milestone highlights the commitment of our Board of Directors to
deliver consistent returns for our shareholders. First Farmers paid
its first cash dividend in 1983 when they were paid semi-annually.
In 2016, we began paying quarterly cash dividends to provide more
frequent returns of capital to our shareholders.”
“A strong cash dividend payout is a vital component to the
long-term shareholder value we seek to deliver. We remain very
positive about the future of First Farmers based on the strategic
changes we are implementing, and we believe First Farmers is well
positioned for solid earnings performance as we move forward.”
About First Farmers and Merchants Corporation and First
Farmers and Merchants Bank
First Farmers and Merchants Corporation is the holding company
for First Farmers and Merchants Bank, a community bank serving the
Middle Tennessee area through 22 offices in seven Middle Tennessee
counties. As of March 31, 2024, First Farmers reported total assets
of approximately $1.9 billion, total shareholders’ equity of
approximately $124 million, and administered trust assets of $6.0
billion. For more information about First Farmers, visit us on the
Web at www.myfirstfarmers.com under “Investor Relations.”
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Robert E. Krimmel Chief Financial Officer (931)
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