Farmers & Merchants Bancorp, Inc.
FMAOFinancial Services · Banks - Regional · Stock · quarterly payer
Forward Yield
2.75%
Annual Dividend
$0.92
Payout Ratio
24%
5-Yr Growth
6.4%
Ex-Date
Oct 9, 2026
Frequency
Quarterly
Key facts about FMAO's dividend
Data as of · Source: SmarterDividends data
- As of Oct 15, 2026, Farmers & Merchants Bancorp, Inc. (FMAO) has a forward dividend yield of 2.75%, based on an annual dividend of $0.92 per share and a share price of $34.69.
- As of Oct 15, 2026, FMAO's dividend safety grade from SmarterDividends is A (95 out of 100), which rates the dividend as very safe.
- By SmarterDividends' count, Farmers & Merchants Bancorp, Inc. (FMAO) has raised its dividend for 19 consecutive years as of Oct 15, 2026.
- FMAO has never cut its regular dividend in the payment history SmarterDividends has on record.
- FMAO's most recent ex-dividend date was Oct 9, 2026, for a dividend of $0.25 per share.
- As of Oct 15, 2026, FMAO pays out 24% of its trailing 12-month earnings as dividends (its payout ratio).
- FMAO's dividend has grown at an average rate of 6.4% a year over the past five years.
- As of Oct 15, 2026, FMAO's 2.75% yield is 16% below its five-year average yield of 3.28%.
- As of Oct 15, 2026, SmarterDividends' blended fair-value estimate for FMAO is $48.70 per share, 40% above the $34.69 share price, so FMAO screens as undervalued.
- Farmers & Merchants Bancorp, Inc. (FMAO) pays its dividend quarterly, 4 times a year.
Cite this page
SmarterDividends, "FMAO Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 15, 2026, https://smarterdividends.com/stocks/FMAO
Summary
As of Oct 15, 2026, Farmers & Merchants Bancorp, Inc. (FMAO) yields 2.75% ($0.92 a year per share), has a dividend safety grade of A (95/100) and has 19 consecutive years of dividend increases on record.
Is FMAO a good dividend stock?
YesFarmers & Merchants Bancorp, Inc. (FMAO) pays a quarterly dividend yielding 2.75% ($0.92/yr), with 19 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- 19 consecutive years of dividend growth
- Never cut its dividend on record
- Comfortable payout ratio (24%)
- Strong 6.4% 5-yr dividend growth
- Top-tier dividend safety score
Risks
- Single-stock concentration risk — diversify
Key Data
- Dividend Yield
- 2.75%
- Payout Ratio
- 24%
- Annual Dividend
- $0.92
- 5-Yr Avg Growth
- 6.4%
- Ex-Dividend Date
- Oct 9, 2026
- Years of Growth
- 19
- Frequency
- quarterly
- Beta
- 0.81
- Market Cap
- $477.8M
- P/E Ratio
- 11.9
- 5-Yr Total Return
- 36%
- 52-Week Range
- $22.77 – $36.12
- Dividend Safety
- A · 95/100
- Ever Cut?
- No
Frequently Asked Questions
Is FMAO a good dividend stock?
Yes. Farmers & Merchants Bancorp, Inc. (FMAO) pays a quarterly dividend yielding 2.75% ($0.92/yr), with 19 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is FMAO undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, FMAO's fair value is about $48.70 versus a $34.69 share price — so it looks undervalued (+40% vs. fair value).
Is FMAO's dividend safe?
FMAO has a dividend-safety grade of A (95/100), based on its payout coverage, free-cash-flow, 19-year growth streak, a clean no-cut history, debt and yield-versus-history.
What is FMAO's fair value?
Our blended fair-value estimate for FMAO is about $48.70 per share, roughly 40% above the current $34.69 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is FMAO a buy, hold, or sell?
We don't issue formal ratings, but on the data FMAO screens as "yes" and undervalued. Farmers & Merchants Bancorp, Inc. (FMAO) pays a quarterly dividend yielding 2.75% ($0.92/yr), with 19 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will FMAO cut its dividend?
FMAO earns a dividend-safety grade of A (95/100), with no dividend cut on record. A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does FMAO pay a dividend?
Yes. Farmers & Merchants Bancorp, Inc. pays a quarterly dividend of about $0.92 per share annually, a forward yield of roughly 2.75%.
What is FMAO's dividend yield?
As of Oct 15, 2026, FMAO's forward dividend yield is 2.75%, based on a $0.92 annual dividend and a $34.69 share price.
What is FMAO's dividend per share?
As of Oct 15, 2026, FMAO pays $0.92 per share per year, distributed on a quarterly basis.
What is FMAO's dividend payout ratio?
As of Oct 15, 2026, FMAO's payout ratio is 24% of trailing 12-month earnings — a comfortable level that leaves room to keep raising the dividend.
How many years has FMAO grown its dividend?
As of Oct 15, 2026, FMAO has increased its dividend for 19 consecutive years.
When is the next FMAO ex-dividend date?
As of Oct 15, 2026, FMAO's next ex-dividend date hasn't been announced. The most recent was Oct 9, 2026, for $0.25 per share.
FMAO Price — Last 12 Months
Daily close
Price Return
1 Year
+45%
3 Years
+98%
5 Years
+36%
52-Week Range
$22.77 – $36.12
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is FMAO worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Farmers & Merchants Bancorp, Inc. is $48.70 per share, versus a market price of $34.69. That implies 40% of upside — a margin of safety of about 29%.
Fair Value
$48.70
Current Price
$34.69
Upside
+40%
Margin of Safety
29%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
Assumptions: 8.3% discount rate (CAPM), 12.0% growth for five years fading to 2.5% over the next five, $2.91 EPS, $0.96 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
FMAO Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full FMAO dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Oct 9, 2026 | Oct 20, 2026 | $0.2500 | regular |
| Jul 10, 2026 | Jul 20, 2026 | $0.2300 | regular |
| Apr 2, 2026 | Apr 20, 2026 | $0.2300 | regular |
| Dec 29, 2025 | Jan 20, 2026 | $0.2300 | regular |
| Oct 10, 2025 | Oct 20, 2025 | $0.2280 | regular |
| Jul 7, 2025 | Jul 20, 2025 | $0.2210 | regular |
| Apr 4, 2025 | Apr 20, 2025 | $0.2210 | regular |
| Dec 27, 2024 | Jan 20, 2025 | $0.2210 | regular |
| Oct 4, 2024 | Oct 20, 2024 | $0.2210 | regular |
| Jul 5, 2024 | Jul 20, 2024 | $0.2200 | regular |
| Mar 27, 2024 | Apr 20, 2024 | $0.2200 | regular |
| Dec 28, 2023 | Jan 20, 2024 | $0.2200 | regular |
| Oct 5, 2023 | Oct 20, 2023 | $0.2100 | regular |
| Jul 6, 2023 | Jul 20, 2023 | $0.2100 | regular |
Income Calculator
At $0.92 / yr per share
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