First Merchants Corporation
FRMEPFinancial Services · Stock · quarterly payer
Forward Yield
7.23%
Annual Dividend
$1.88
Payout Ratio
—
5-Yr Growth
-0.4%
Ex-Date
Jul 30, 2026
Frequency
Quarterly
Summary
As of July 2026, First Merchants Corporation (FRMEP) yields 7.23% ($1.88 per share annually), with a blended fair-value estimate of $47.66 — +86% upside, so it screens as undervalued. Dividend safety grade: B (78/100).
Is FRMEP a good dividend stock?
YesFirst Merchants Corporation (FRMEP) pays a quarterly dividend yielding 7.23% ($1.88/yr), with 0 years of growth and a dividend-safety grade of B. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Never cut its dividend on record
Risks
- Dividend has been shrinking, not growing
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 7.23%
- Payout Ratio
- —
- Annual Dividend
- $1.88
- 5-Yr Avg Growth
- -0.4%
- Ex-Dividend Date
- Jul 30, 2026
- Years of Growth
- 0
- Frequency
- quarterly
- Beta
- 0.85
- Market Cap
- —
- P/E Ratio
- 6.7
- 5-Yr Total Return
- -7%
- 52-Week Range
- $24.73 – $27.09
- Dividend Safety
- B · 78/100
- Ever Cut?
- No
Frequently Asked Questions
FRMEP Price — Last 12 Months
Daily close
Price Return
1 Year
+0%
3 Years
+5%
5 Years
-7%
52-Week Range
$24.73 – $27.09
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is FRMEP worth?
Undervaluedlow confidenceOur blended fair-value estimate for First Merchants Corporation is $47.66 per share, versus a market price of $25.61. That implies 86% of upside — a margin of safety of about 46%.
Fair Value
$47.66
Current Price
$25.61
Upside
+86%
Margin of Safety
46%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Assumptions: 8.5% discount rate (CAPM), 18.7% stage-1 growth, 2.5% terminal growth, $3.81 EPS, $1.88 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
FRMEP Dividend Safety Score
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
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Apr 30, 2026 | — | $0.4690 | regular |
| Jan 30, 2026 | — | $0.4690 | regular |
| Oct 31, 2025 | — | $0.4690 | regular |
| Jul 30, 2025 | — | $0.4690 | regular |
| Apr 30, 2025 | — | $0.4690 | regular |
| Jan 31, 2025 | — | $0.4690 | regular |
| Oct 31, 2024 | — | $0.4690 | regular |
| Jul 30, 2024 | — | $0.4690 | regular |
| Apr 29, 2024 | — | $0.4690 | regular |
| Jan 30, 2024 | — | $0.4690 | regular |
| Oct 30, 2023 | — | $0.4690 | regular |
| Jul 28, 2023 | — | $0.4690 | regular |
| Apr 27, 2023 | — | $0.4690 | regular |
| Jan 30, 2023 | — | $0.4690 | regular |
Income Calculator
At $1.88 / yr per share
