BANGOR – Edwin Clift, chairman and chief executive officer of Merrill Merchants Bancshares, the parent company of Merrill Merchants Bank, has announced that the company has declared a 3 percent stock dividend to all shareholders of record as of March 28, 2005, for distribution on April 8.

“This is the tenth consecutive year the company has paid a stock dividend,” Clift said. “Providing a return to our shareholders remains a top priority of the company.”

In addition, the company has declared a cash dividend of 15 cents per share on the company’s common stock for the first quarter of 2005.

This is an increase of 19 percent over last year’s first quarter dividend. The cash dividend will be payable to all shareholders of record as of April 15, 2005, and will be paid April 29.