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Chemical Financial Corporation Declares Second Quarter Cash Dividend

    MIDLAND, Mich., April 19 /PRNewswire-FirstCall/ -- Aloysius J. Oliver,
Chairman of Chemical Financial Corporation (Nasdaq: CHFC), announced that on
April 19, 2004, the board of directors of the Company declared a quarterly
cash dividend of $0.265 per share of common stock payable on Friday, June 18,
2004, to shareholders of record on June 4, 2004.  The ex-dividend date is
June 2, 2004.
    Chemical Financial Corporation is the fourth largest bank holding company
headquartered in Michigan.  The Company's four Subsidiary Banks operate 133
banking offices and 2 loan production offices spread over 33 counties in the
lower peninsula of Michigan.
    Chemical Financial Corporation common stock trades on the Nasdaq Stock
Market under the symbol "CHFC".


SOURCE Chemical Financial Corporation




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    CONTACT:
    David B. Ramaker, President & CEO of Chemical
    Financial Corporation, +1-989-839-5269