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Virginia National Bankshares Corporation (the "Company") (NASDAQ:VABK) announced today that on February 22, 2023 its Board of Directors declared a quarterly cash dividend of $0.33 per share to be paid on March 24, 2023 to shareholders of record as of March 10, 2023. The quarterly cash dividend represents a 10% increase in the quarterly dividend and an annual yield to shareholders of approximately 3.33% based on the closing price of the Company's common stock on February 23, 2023.
VIRGINIA NATIONAL BANKSHARES CORPORATION ANNOUNCES INCREASE IN QUARTERLY CASH DIVIDEND
"After delivering record results in 2022, we are pleased to return a larger portion of capital to our shareholders," commented President and Chief Executive Officer, Glenn W. Rust. "The action taken by our Board of Directors to increase the quarterly dividend reinforces their determination to properly allocate capital subsequent to the merger with Fauquier Bankshares, which will mark its two-year anniversary on April 1, 2023."
Posted In: VABK
