BANGOR – Edwin N. Clift, chairman and chief executive officer of Merrill Merchants Bancshares Inc., the parent company of Merrill Merchants Bank, announced Friday that the company has declared a cash dividend of 14 cents per share on the company’s common stock.

The dividend is an increase of 17 percent or 2 cents per share over last year’s third-quarter dividend.

The quarterly dividend will be payable to all shareholders of record as of Oct. 15 and will be paid on Oct. 29.