On May 15, 2023, the Board of Directors of Farmers and Merchants Bancshares, Inc., the parent of Farmers and Merchants Bank, declared a cash dividend of $0.33 per share of common stock, which will be paid on June 23, 2023 to shareholders of record on June 2, 2023. The $0.33 per share dividend is $0.01 greater than the most recent dividend paid in December 2022. The semi-annual dividend has increased or remained the same compared to the previous dividend 27 consecutive times starting with the June 2010 dividend.