Trailing Dividend / Share
$1.03
Independent Bank Corporation (IBCP) Dividend History
Income profile from 1985 to 2026 with payout safety and yield-on-cost trend
Dividend Yield
2.9%
Payout Ratio
31.5%
Sustainable
Dividend Streak
11 years
IBCP Dividend Income Check
Safety
31.5% payout ratio with sustainable safety profile.
Consistency
11 straight years of dividend increases.
Income Trend
Yield on cost is 5.6% and trend is rising.
IBCP Dividend Scorecard
Yield & Income
Dividend Yield2.9%
Trailing DPS$1.03
FrequencySemi-Annual
Payments / 12M4
Payout Safety
Earnings Payout31.5%
Earnings SafetySustainable
FCF Payout82.6%
FCF SafetyStretched
Piotroski F-Score8/9
Growth
Growth Streak11 years
3Y CAGR5.7%
5Y CAGR5.4%
Yield on Cost (5Y)5.6%
YOC Trendrising
Total Returns
Buyback Yield1.7%
Total Shareholder Yield4.6%
1Y Total Return8.6%
5Y Total Return95.8%
Div Contribution (5Y)23.1%
Estimated $10K growth (return + dividends):
5Y ago$18,01410Y ago$30,49120Y ago$2,428
Uses precomputed total return metrics from screening data (not lot-by-lot dividend reinvestment transactions). Different time windows can produce different outcomes depending on market regime and entry point.
IBCP Income Growth Story
Dividend per share and yield on cost over time (38 years of payments)
IBCP Dividend Safety Story
EPS is the container — dividend is what's drawn out
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Monthly dividend calendar — upcoming ex-dates for stocks you follow.
Dividend Analysis
Payout Safety
Independent Bank Corporation distributes 31.5% of earnings as dividends (Sustainable). When measured against free cash flow—a stricter test—the payout ratio stands at 82.6%, rated "Stretched".
Piotroski F-Score: 8/9 — strong financial health.
Growth Track Record
IBCP has raised its dividend for 11 consecutive years, with a 3-year CAGR of 5.7% and 5-year CAGR of 5.4%.
Total Shareholder Returns
Beyond cash dividends, IBCP returns capital through share repurchases. The combined picture: 2.9% dividend yield, 1.7% buyback yield, 4.6% total shareholder yield.
Income Trend & Total Return
Yield on cost (5-year basis) has reached 5.6% and is currently rising. The 5-year total return is 95.8%, with dividends contributing 23.1% of that performance.
DRIP Growth
A $10,000 investment made 10 years ago with dividends reinvested would have grown to approximately $30,491 today.
FCF payout is stretched — the dividend consumes a large share of free cash flow.
IBCP Recent Dividend Payments
Last 20 payments · Semi-Annual
TTM Total$4.78
Avg/Payment$0.2390
| Ex-Date | Amount | Change | Yield % | Payment Date |
|---|---|---|---|---|
| May 4, 2026Latest | $0.2800 | — | 3.27% | May 14, 2026 |
| Feb 3, 2026 | $0.2800 | ↑ +7.7% | 2.92% | Feb 13, 2026 |
| Nov 4, 2025 | $0.2600 | — | 3.44% | Nov 14, 2025 |
| Aug 5, 2025 | $0.2600 | — | 3.37% | Aug 15, 2025 |
| May 5, 2025 | $0.2600 | — | 3.19% | May 15, 2025 |
| Feb 4, 2025 | $0.2600 | ↑ +8.3% | 2.71% | Feb 14, 2025 |
| Nov 5, 2024 | $0.2400 | — | 2.89% | Nov 15, 2024 |
| Aug 5, 2024 | $0.2400 | — | 3.04% | Aug 15, 2024 |
IBCP Dividend vs Peers
Comparable companies in the same industry
#4 yield in peer group
Div Yield
2.9%
#4 of 9
Safety
Sustainable
31.5% payout
Streak
11Y
5.4% 5Y CAGR
Total Shareholder
4.6%
#2 of 9
| Company | Mkt Cap | Yield | Payout | Streak | Safety |
|---|---|---|---|---|---|
| IBCPIndependent Bank Cor… | $737M | 2.9% | 31.5% | 11 | Sustainable |
 MBWMMercantile Bank Corp… | $992M | 2.6% | 27.0% | 13 | Sustainable |
 CZWICitizens Community B… | $225M | 1.6% | 25.0% | 6 | Sustainable |
 UVSPUnivest Financial Co… | $1.2B | 2.0% | 27.9% | 1 | Sustainable |
2nd  LKFNLakeland Financial C… | $1.5B | 3.2% | 49.7% | 14 | Sustainable |
 FFINFirst Financial Bank… | $5.0B | 2.1% | 41.8% | 15 | Sustainable |
1st  HBANHuntington Bancshare… | $36.5B | 3.3% | 41.1% | 0 | Sustainable |
3rd  FITBFifth Third Bancorp | $52.5B | 3.0% | 46.1% | 15 | Sustainable |
 CBSHCommerce Bancshares,… | $8.6B | 1.8% | 26.5% | 8 | Sustainable |
IBCP Annual Dividend History (1985–2026)
42 years of dividend data
GrowthDecline
| Year | DPS | YoY | Pmts | EPS | Payout | Coverage | YOC |
|---|---|---|---|---|---|---|---|
| 2026YTD | $0.56 | — | 2 | — | — | — | 3.0% |
| 2025 | $1.04 | 8.3% | 4 | $3.27 | 31.8% | 3.14x | 5.6% |
| 2024 | $0.96 | 4.3% | 4 | $3.16 | 30.4% | 3.29x | 5.1% |
| 2023 | $0.92 | 4.5% | 4 | $2.79 | 33.0% | 3.03x | 4.9% |
| 2022 | $0.88 | 4.8% | 4 | $2.97 | 29.6% | 3.38x | 4.7% |
| 2021 | $0.84 | 5.0% | 4 | $2.88 | 29.2% | 3.43x | 4.5% |
| 2020 | $0.80 | 11.1% | 4 | $2.53 | 31.6% | 3.16x | 4.3% |
| 2019 | $0.72 | 20.0% | 4 | $2.00 | 36.0% | 2.78x | 3.9% |
| 2018 | $0.60 | 42.9% | 4 | $1.68 | 35.7% | 2.80x | 3.2% |
| 2017 | $0.42 | 23.5% | 4 | $0.95 | 44.2% | 2.26x | 2.2% |
Consensus-Based Analysis Tools
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
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Historical Returns
41+ years return with dividends reinvested.
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DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
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IBCP — Frequently Asked Questions
Quick answers to the most common questions about buying IBCP stock.
How much dividend does IBCP pay per share?
Independent Bank Corporation (IBCP) pays a trailing 12-month dividend of $1.03 per share, with a current dividend yield of +2.9%. Payments are made Semi-Annual.
When is IBCP's next ex-dividend date?
IBCP's most recent ex-dividend date is N/A. You must own shares before the ex-dividend date to receive the next payment. IBCP typically pays dividends Semi-Annual.
Is IBCP's dividend safe?
IBCP's dividend safety is rated "Sustainable" based on an earnings payout ratio of +31.5% and FCF payout ratio of +82.6%. With 11 consecutive years of dividend growth, the track record supports sustainability.
Is IBCP a Dividend Achiever?
Yes, Independent Bank Corporation is classified as a Dividend Achiever with 11 consecutive years of dividend increases. The 5-year dividend CAGR is +5.4%, demonstrating above-inflation dividend growth.
How often does IBCP pay dividends?
Independent Bank Corporation pays dividends Semi-Annual. The trailing 12-month total is $1.03 per share. Dividend data on this page covers 41+ years from 1985 to 2026.
How much would $10,000 invested in IBCP grow with dividend reinvestment?
With dividends reinvested (DRIP), $10,000 invested in IBCP five years ago would be worth approximately $18,014 today. This includes both price appreciation and compounded dividend reinvestment. Use the DRIP calculator above for other time periods.
What is IBCP's yield on cost for long-term holders?
IBCP's yield on cost — the current dividend divided by the original purchase price — is +5.6% for a 5-year holding period. This means long-term holders earn a higher effective yield than today's +2.9% market yield, thanks to consistent dividend growth.