Meridian Co. (NASDAQ:MRBK) Announces Quarterly Dividend of $0.13

Meridian Co. (NASDAQ:MRBK) announced a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Stockholders of record on Monday, May 12th will be paid a dividend of 0.125 per share on Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, May 12th.

Meridian has raised its dividend payment by an average of 20.3% per year over the last three years. Meridian has a dividend payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Meridian to earn $2.02 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 24.8%.

Meridian Stock Performance

Shares of MRBK stock opened at $13.77 on Tuesday. The company has a market cap of $155.39 million, a price-to-earnings ratio of 9.50 and a beta of 0.68. Meridian has a 52 week low of $8.69 and a 52 week high of $17.33. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $14.09 and a 200-day moving average of $14.67.

Meridian (NASDAQ:MRBK) last announced its quarterly earnings data on Friday, April 25th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.12). The company had revenue of $27.10 million for the quarter, compared to analyst estimates of $27.93 million. Meridian had a return on equity of 10.01% and a net margin of 8.28%. On average, equities analysts forecast that Meridian will post 2.07 earnings per share for the current year.

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.