Independent Bank Corporation
IBCPFinancial Services · Stock · quarterly payer
Forward Yield
3.09%
Annual Dividend
$1.12
Payout Ratio
31%
5-Yr Growth
5.4%
Ex-Date
Aug 4, 2026
Frequency
Quarterly
Summary
As of September 2026, Independent Bank Corporation (IBCP) yields 3.09% ($1.12 per share annually), with a blended fair-value estimate of $63.09 — +74% upside, so it screens as undervalued. Dividend safety grade: A (81/100). 11 years of dividend growth.
Is IBCP a good dividend stock?
YesIndependent Bank Corporation (IBCP) pays a quarterly dividend yielding 3.09% ($1.12/yr), with 11 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
- 11 consecutive years of dividend growth
- Comfortable payout ratio (31%)
- Strong 5.4% 5-yr dividend growth
- 61% total price return over 5 years
- Top-tier dividend safety score
Risks
- Cut its dividend in 2014
Key Data
- Dividend Yield
- 3.09%
- Payout Ratio
- 31%
- Annual Dividend
- $1.12
- 5-Yr Avg Growth
- 5.4%
- Ex-Dividend Date
- Aug 4, 2026
- Years of Growth
- 11
- Frequency
- quarterly
- Beta
- 0.69
- Market Cap
- $796.7M
- P/E Ratio
- 10.4
- 5-Yr Total Return
- 61%
- 52-Week Range
- $29.83 – $39.24
- Dividend Safety
- A · 81/100
- Ever Cut?
- Yes (2014)
Frequently Asked Questions
IBCP Price — Last 12 Months
Daily close
Price Return
1 Year
+20%
3 Years
+82%
5 Years
+61%
52-Week Range
$29.83 – $39.24
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is IBCP worth?
Undervaluedmedium confidenceOur blended fair-value estimate for Independent Bank Corporation is $63.09 per share, versus a market price of $36.23. That implies 74% of upside — a margin of safety of about 43%.
Fair Value
$63.09
Current Price
$36.23
Upside
+74%
Margin of Safety
43%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about -10.0% annual free-cash-flow growth. We model 8.9% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.8% discount rate (CAPM), 8.9% stage-1 growth, 2.5% terminal growth, $3.45 EPS, $1.12 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
IBCP 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
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Aug 4, 2026 | — | $0.2800 | regular |
| May 4, 2026 | — | $0.2800 | regular |
| Feb 3, 2026 | — | $0.2800 | regular |
| Nov 4, 2025 | — | $0.2600 | regular |
| Aug 5, 2025 | — | $0.2600 | regular |
| May 5, 2025 | — | $0.2600 | regular |
| Feb 4, 2025 | — | $0.2600 | regular |
| Nov 5, 2024 | — | $0.2400 | regular |
| Aug 5, 2024 | — | $0.2400 | regular |
| May 2, 2024 | — | $0.2400 | regular |
| Feb 2, 2024 | — | $0.2400 | regular |
| Nov 2, 2023 | — | $0.2300 | regular |
| Aug 3, 2023 | — | $0.2300 | regular |
| May 4, 2023 | — | $0.2300 | regular |
Income Calculator
At $1.12 / yr per share
