Mattoon, Ill.-based First Mid Bancshares Inc.'s board approved a semiannual dividend of 40 cents, representing an increase of 11.1% over the previous semmiannual dividend of 36 cents.

The dividend will be paid Dec. 13 to shareholders of record Nov. 29.

The company also reported net income of $11.7 million, or 70 cents per share, for the third quarter, compared to $8.2 million, or 54 cents per share, in the year-ago quarter.

The S&P Global Market Intelligence normalized consensus EPS estimate for the third quarter was 71 cents.