Virginia National Bankshares Corporation Announces Cash Dividend

Rhea-AI Summary

Virginia National Bankshares Corporation (NASDAQ: VABK) declared a quarterly cash dividend of $0.30 per share, payable on June 25, 2021, to shareholders of record as of June 11, 2021. This dividend yields approximately 3.68% based on the stock's closing price on May 27, 2021. The Company operates through Virginia National Bank and expanded its presence after merging with The Fauquier Bank on April 1, 2021. The Bank provides a full range of financial services, including fiduciary services and investment management.

Positive

• Dividend of $0.30 per share indicates strong cash flow and commitment to returning value to shareholders.
• Annual yield of 3.68% based on recent stock price enhances investor interest.
• Expansion in Virginia following the merger with The Fauquier Bank increases market presence.

Negative

• None.

CHARLOTTESVILLE, Va., May 28, 2021 /PRNewswire/ -- Virginia National Bankshares Corporation (the "Company") (NASDAQ: VABK) announced today that on May 26 2021, its Board of Directors declared a quarterly cash dividend of $0.30 per share to be paid on June 25, 2021 to shareholders of record as of June 11, 2021.  The quarterly cash dividend represents an annual yield to shareholders of approximately 3.68% based on the closing price of the Company's common stock on May 27, 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 banking office in Winchester, and offers loan, deposit and treasury management services in Richmond, Virginia.  Following the merger of The Fauquier Bank ("TFB") with and into Virginia National Bank effective April 1, 2021, the Bank also has eleven banking offices throughout Fauquier and Prince William counties, for which system conversion and integration will occur in the summer of 2021. The Bank offers a full range of banking and related financial services to meet the needs of individuals, businesses and charitable organizations, including the fiduciary services of VNB Trust and Estate Services and of  TFB Trust and Estate Management.  The  Bank also offers, through its networking agreements with third parties, investment advisory and other investment services under Sturman Wealth Advisors and brokerage and other investment services through  TFB Investment Services.  Investment management services are offered through Masonry Capital Management, LLC, a registered investment adviser and wholly-owned subsidiary of the Company.

The Company's common stock trades on the Nasdaq Capital Market under the symbol "VABK."  Additional information on the Company is also available at www.vnbcorp.com.

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SOURCE Virginia National Bankshares

FAQ

What is the dividend amount for VABK?

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

When will the VABK dividend be paid?

The dividend will be paid on June 25, 2021.

What is the record date for the VABK dividend?

The record date for the dividend is June 11, 2021.

What is the yield of the VABK dividend?

The dividend provides an annual yield of approximately 3.68% based on the stock's closing price on May 27, 2021.

How has VABK expanded its business recently?

VABK expanded its business by merging with The Fauquier Bank on April 1, 2021, increasing its banking locations.