Virginia National Bankshares Corporation Announces Cash Dividend

Rhea-AI Summary

Virginia National Bankshares Corporation (OTCQX: VABK) has declared a quarterly cash dividend of $0.30 per share, scheduled for payment on March 26, 2021. Shareholders of record as of March 12, 2021 will receive this dividend, translating to an annual yield of approximately 3.76% based on the closing stock price on March 1, 2021. The bank also plans to expand operations by opening a new office in Richmond, Virginia, in the second quarter of 2021.

Positive

• Declared a quarterly cash dividend of $0.30 per share, indicating financial stability.
• Annual yield of approximately 3.76% provides income for shareholders.
• Plans to expand with a new office in Richmond, enhancing market presence.

Negative

• None.

CHARLOTTESVILLE, Va., March 02, 2021 (GLOBE NEWSWIRE) -- Virginia National Bankshares Corporation (the “Company”) (OTCQX: VABK) announced today that, on February 24, 2021, its Board of Directors declared a quarterly cash dividend of $0.30 per share to be paid on March 26, 2021 to shareholders of record as of March 12, 2021. The quarterly cash dividend represents an annual yield to shareholders of approximately 3.76% based on the closing price of the Company’s common stock on March 1, 2021.

About Virginia National Bankshares Corporation

Virginia National Bankshares Corporation, headquartered in Charlottesville, Virginia, is the bank holding company for Virginia National Bank (the “Bank”). The Bank has four banking offices in Charlottesville and one in Winchester, and offers loan, deposit and treasury management services in Richmond, Virginia. The Bank has entered into a lease for branch and office space in Richmond, Virginia and plans to open the office in the second quarter of 2021. Virginia National Bank offers a full range of banking and related financial services to meet the needs of individuals, businesses and charitable organizations, including fiduciary, trust and estate administration services under the name VNB Trust and Estate Services, and wealth and investment advisory services, including financial planning, under the name Sturman Wealth Advisors. Investment management services are also offered through Masonry Capital Management, LLC, a registered investment advisor and wholly-owned subsidiary of the Company.

The Company’s stock trades on the OTC Markets Group’s OTCQX Market under the symbol “VABK.” Additional information on the Company is also available at www.vnbcorp.com.

Virginia National Bankshares Corporation Contact:         Tara Y. Harrison, 434-817-8587

FAQ

What is the dividend amount declared by VABK?

Virginia National Bankshares Corporation declared a quarterly cash dividend of $0.30 per share.

When will the dividend be paid to shareholders of VABK?

The dividend will be paid on March 26, 2021.

What is the yield on the dividend declared by VABK?

The dividend represents an annual yield of approximately 3.76% based on the stock price on March 1, 2021.

Who are the shareholders of record for the VABK dividend?

Shareholders of record as of March 12, 2021, will receive the dividend.

Is VABK planning to open new branches?

Yes, VABK plans to open a new office in Richmond, Virginia, in the second quarter of 2021.