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First Farmers and Merchants ups quarterly cash dividend by 5%

The board of Columbia, Tenn.-based First Farmers and Merchants Corp. increased the company's quarterly cash dividend by 5% to 21 cents per share, from 20 cents per share.

The dividend will be paid Jan. 14, 2019, to shareholders of record as of Dec. 31.

The company previously upped the dividend from 19 cents per share to 20 cents per share in 2017.