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

Meridian Co. (NASDAQ:MRBK) announced a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, May 12th.

Meridian has raised its dividend by an average of 20.3% annually over the last three years. Meridian has a dividend payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Research 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

NASDAQ MRBK opened at $13.77 on Tuesday. Meridian has a 1 year low of $8.69 and a 1 year high of $17.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.97 and a quick ratio of 0.95. The stock has a market capitalization of $155.39 million, a PE ratio of 9.50 and a beta of 0.68. The company’s 50 day simple moving average is $14.09 and its two-hundred day simple moving average is $14.67.

Meridian (NASDAQ:MRBK) last posted its earnings results on Friday, April 25th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.12). The firm had revenue of $27.10 million during the quarter, compared to analysts’ expectations of $27.93 million. Meridian had a return on equity of 10.01% and a net margin of 8.28%. Analysts predict that Meridian will post 2.07 earnings per share for the current fiscal year.

About Meridian

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.