Meridian Co. (MRBK) to Issue Quarterly Dividend of $0.13 on August 19th

Meridian Co. (NASDAQ:MRBK) announced a quarterly dividend on Friday, July 26th, Zacks reports. Investors of record on Monday, August 12th will be given a dividend of 0.125 per share on Monday, August 19th. This represents a $0.50 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Monday, August 12th.

Meridian has increased its dividend payment by an average of 58.7% annually over the last three years. Meridian has a dividend payout ratio of 30.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Meridian to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 28.4%.

Meridian Price Performance

Meridian stock traded down $0.15 during mid-day trading on Friday, reaching $10.60. 11,370 shares of the company’s stock traded hands, compared to its average volume of 13,322. The company has a market cap of $118.57 million, a price-to-earnings ratio of 10.10 and a beta of 0.74. The stock has a 50 day moving average of $10.85 and a two-hundred day moving average of $10.16. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. Meridian has a 12-month low of $8.26 and a 12-month high of $14.24.

Analyst Upgrades and Downgrades

Separately, Piper Sandler boosted their price objective on shares of Meridian from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th.

Meridian Company Profile

Meridian Corporation operates as the holding company for Meridian Bank that provides commercial banking products and services in Pennsylvania, New Jersey, Delaware, Florida, and Maryland. The company offers various deposit products, such as demand non-interest bearing, demand interest bearing, savings accounts, money market accounts, and time deposits.