Business & Real Estate

F&M bank declares cash dividend of $6.40 per share

The board of directors of Lodi-based Farmers & Merchants Bancorp, which oversees three F&M banks in the Sacramento area, has declared a year-end cash dividend of $6.40 per share.

The cash dividend will be paid on Jan. 2 to shareholders of record on Dec. 5. It marks the 80th consecutive year that F&M has declared a cash payment to common shareholders.

Total cash dividends declared during 2014 were $9.88 million, or $12.70 per share of common stock.

Coming off a record earnings year in 2013, Farmers & Merchants Bancorp through nine months this year said it amassed record net income of $18.8 million, or $24.29 per share, up 3.6 percent from last year.

Founded in 1916, F&M currently has 25 offices statewide, including two in Sacramento and one in Elk Grove.

Call The Bee’s Mark Glover, (916) 321-1184.