BANGOR – Merrill Merchants Bancshares Inc., the parent company of Merrill Merchants Bank, has announced a cash dividend of 12 cents per share on common stock.

It represents a 20 percent, or 2 cents-per-share, increase over last year’s second quarter dividend, and an increase of 1 cent over the previous quarter’s dividend.

The quarterly dividend will be payable to all shareholders of record as of July 15 and will be paid on July 31.

Merrill Merchant’s Bank is headquartered in Bangor and provides consumer, commercial and trust and investment services at 11 locations in central and eastern Maine.