Press Release

Chemical Financial Corporation Declares 2006 Third Quarter Cash Dividend

Company Release - 7/19/2006 8:27 AM ET

MIDLAND, Mich., July 19 /PRNewswire-FirstCall/ -- Chemical Financial Corporation's (Nasdaq: CHFC) Board of Directors is pleased to announce that on July 18, 2006, the Board declared a quarterly cash dividend of $0.275 per share of common stock payable on Friday, September 15, 2006, to shareholders of record on September 1, 2006. The ex-dividend date is August 30, 2006.

Chemical Financial Corporation is the fourth largest bank holding company headquartered in Michigan. The Company operates through a single subsidiary bank, Chemical Bank, with 123 banking offices spread over 32 counties in the lower peninsula of Michigan. At June 30, 2006, the Company had total assets of $3.73 billion. Chemical Financial Corporation common stock trades on The Nasdaq Stock Market under the symbol CHFC and is one of the issues comprising the Nasdaq Global Select Market and the Nasdaq Financial 100 index.

SOURCE Chemical Financial Corporation