Meridian Corporation Board Declares $0.14 Dividend as Third-Quarter Income Falls

The board of Meridian Corporation (Nasdaq: MRBK) declared a quarterly cash dividend of $0.14 per common share, keeping the payout level as the bank parent’s net income declined 10.3% from the second quarter.

Payment is scheduled for Nov. 16 to shareholders of record Nov. 9. The amount matches the dividend declared for the previous quarter.

Net income for the three months ended Sept. 30 was $5.207 million, compared with $5.807 million for the three months ended June 30. Diluted earnings per share were $0.43, down from $0.48 in the prior quarter.

Meridian Corporation is the parent of Meridian Bank. The company disclosed the board’s Oct. 29 decision with third-quarter results issued Oct. 30 at 4:01 p.m. ET (20:01 UTC).