IBCP (Independent Bank) Dividend Payout Ratio: 0.32 (As of Mar. 2026) — Near Median

What is Independent Bank Dividend Payout Ratio?

Independent Bank IBCP +1.83% 64 Dividend Payout Ratio is 0.32 as of Mar. 2026, which is at its 10-year median of 0.32. GuruFocus rates IBCP with a GF Score™ of 64/100 and a GF Value™ of $32.34 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 1,172 Banks companies, Independent Bank ranks better than 53.16% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Independent Bank's Dividend Payout Ratio for the months ended in Mar. 2026 was 0.32.

The historical rank and industry rank for Independent Bank's Dividend Payout Ratio or its related term are showing as below:

IBCP' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.29 Med: 0.32 Max: 0.36
Current: 0.31

During the past 13 years, the highest Dividend Payout Ratio of Independent Bank was 0.36. The lowest was 0.29. And the median was 0.32.

IBCP's Dividend Payout Ratio is ranked better than
53.16% of 1172 companies
in the Banks industry
Industry Median: 0.32 vs IBCP: 0.31

As of today (2026-06-28), the Dividend Yield % of Independent Bank is 2.98%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Independent Bank was 6.30%. The lowest was 1.47%. And the median was 3.21%.

Independent Bank's Dividends per Share for the months ended in Mar. 2026 was $0.28.

During the past 12 months, Independent Bank's average Dividends Per Share Growth Rate was 8.20% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 5.70% per year. During the past 5 years, the average Dividends Per Share Growth Rate was 5.20% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 13.90% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Independent Bank was 32.60% per year. The lowest was -66.30% per year. And the median was 12.25% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Independent Bank (NAS:IBCP) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Independent Bank Dividend Payout Ratio Related Terms

Independent Bank Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Independent Bank's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Independent Bank Dividend Payout Ratio Chart

Independent Bank Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Dividend Payout Ratio

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0.29

0.30

0.33

0.30

0.32

Independent Bank Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Dividend Payout Ratio	Get a 7-Day Free Trial															0.35	0.32	0.31	0.29	0.32

IBCP vs SMBK, FISI, ALRS: Dividend Payout Ratio Comparison

For the Banks - Regional subindustry, Independent Bank's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Independent Bank Dividend Payout Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Independent Bank's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Independent Bank's Dividend Payout Ratio falls into.

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64GF Score

Independent Bank Corp. IBCP

Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.

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Independent Bank Dividend Payout Ratio Calculation

Independent Bank's Dividend Payout Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Dividend Payout Ratio	=	Dividends per Share (A: Dec. 2025 )	/	EPS without NRI (A: Dec. 2025 )
	=	1.04	/	3.268
	=	0.32

Independent Bank's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio	=	Dividends per Share (Q: Mar. 2026 )	/	EPS without NRI (Q: Mar. 2026 )
	=	0.28	/	0.882
	=	0.32

Frequently Asked Questions Learn more about Dividend Payout Ratio →

What does a Dividend Payout Ratio of 0.32 mean?

Independent Bank (IBCP) has a Dividend Payout Ratio of 0.32 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Independent Bank and its competitors. This is near median its historical median of 0.32. Over the past decade, Independent Bank's Dividend Payout Ratio has ranged from 0.29 to 0.36. According to the industry distribution chart, Independent Bank ranks #549 out of 1172 companies in the Banks industry, placing it in the top 46.8%.

Is Independent Bank's Dividend Payout Ratio too high?

Independent Bank's current Dividend Payout Ratio of 0.32 is near median its 10-year median of 0.32. Over the past 10 years, this metric has ranged from a low of 0.29 to a high of 0.36. The Banks industry median Dividend Payout Ratio is 0.32. Independent Bank's value of 0.32 is 0% at this industry median. Based on the distribution chart, Independent Bank ranks #549 out of 1172 companies in the Banks industry, which is above the industry midpoint. Overall, Independent Bank has a GF Score™ of 64/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Independent Bank's Dividend Payout Ratio compare to SMBK and FISI?

According to the Banks industry distribution chart, Independent Bank ranks #549 out of 1172 companies for Dividend Payout Ratio. This puts Independent Bank in the upper half of its industry. The industry median Dividend Payout Ratio is 0.32. Independent Bank's value of 0.32 is 0% at this benchmark. Historically, Independent Bank's own Dividend Payout Ratio has ranged from 0.29 to 0.36 over the past decade. While the company's 10-year median is 0.32 vs. the industry median of 0.32, Independent Bank has consistently been at the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Dividend Payout Ratio for a Banks company?

The median Dividend Payout Ratio among Banks companies is 0.32, based on 1,172 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Independent Bank's current Dividend Payout Ratio of 0.32 is 0% at the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Dividend Payout Ratio mean?

A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Independent Bank and its competitors. For the Banks industry, the median Dividend Payout Ratio is 0.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Independent Bank's current Dividend Payout Ratio is 0.32, which is near median its own 10-year median of 0.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Independent Bank stock overvalued right now?

Based on GuruFocus' analysis, Independent Bank (IBCP) is currently considered Modestly Overvalued. The stock's GF Value™ is $32.34, compared to a current price of $36.21 — trading 12% above its estimated fair value. The current Dividend Payout Ratio is 0.32, which is near median its 10-year median of 0.32 and 0% at the Banks industry median of 0.32. Independent Bank's overall GF Score™ is 64/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Dividend Payout Ratio calculated?

Dividend Payout Ratio is calculated from a company's financial statements. For Independent Bank (IBCP), the current Dividend Payout Ratio is 0.32 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Independent Bank (IBCP) Overvalued in 2026?

Based on GuruFocus' analysis, Independent Bank stock appears to be overvalued. The current stock price of $36.21 is trading 12% above its estimated GF Value™ of $32.34. GuruFocus considers Independent Bank to be Modestly Overvalued.

Key valuation signals for IBCP:

Dividend Payout Ratio: 0.32 (near median its 10-year median of 0.32)
GF Value™: $32.34 vs. price of $36.21 (12% above fair value)
GF Score™: 64/100 with 3 warning signs
Industry Position: 0% at the Banks median (#549 of 1172)

No single metric tells the full story. See the IBCP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Independent Bank Business Description

Industry Financial Services Banks

Comparable Companies SMBK FISI ALRS SHBI ORRF THVB SMBC CWBC PGC HBIA SHSE:600036 SGX:D05 MIL:UCG NSE:HDFCBANK XPAR:BNP MIL:ISP TSE:8411 SAU:1120 NSE:ICICIBANK XMAD:CABK

Address 4200 East Beltline, Grand Rapids, MI, USA, 49525

Website https://www.independentbank.com

Independent Bank Corp. operates as a commercial bank. It offers a broad range of banking services to individuals and businesses, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services. It also provides internet and mobile banking capabilities to its customers. The firm's principal markets are the rural and suburban communities across Lower Michigan. The firm generates the majority of its revenue from Interest and fees on loans.

64GF Score

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$36.21

Price

$32.34

GF Value

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