Virginia National Bankshares (NASDAQ:NKSH) Corporation (NASDAQ:VABK), a Charlottesville-based financial institution, announced a quarterly cash dividend of $0.33 per share. The dividend, declared by the company's Board of Directors on October 23, 2024, is payable on December 20, 2024, to shareholders of record as of December 6, 2024.
The announcement of the dividend was made through a press statement issued on Friday, October 25, 2024, and is part of the company's latest financial disclosures filed with the Securities and Exchange Commission (SEC). The press statement is included as Exhibit 99.1 in the 8-K filing.
In other recent news, Virginia National Bankshares Corporation held its 2024 Annual Meeting of Shareholders, during which all 10 director nominees were elected to serve until the next annual meeting in 2025. In the same meeting, the corporation's executive compensation strategy received approval in an advisory vote.
Additionally, Yount, Hyde & Barbour, P.C. was ratified as the company's independent registered public accounting firm for 2024.
These developments highlight the ongoing activities at Virginia National Bankshares Corporation, providing a snapshot of its recent operations and financial condition.
InvestingPro Insights
Virginia National Bankshares Corporation's recent dividend announcement aligns with its track record of consistent shareholder returns. According to InvestingPro Tips, VABK has maintained dividend payments for 12 consecutive years, demonstrating a commitment to stable income for investors. This consistency is particularly noteworthy given the company's current dividend yield of 3.25%.
The bank's financial performance has been robust, with InvestingPro data showing a price-to-earnings ratio of 14.3 over the last twelve months as of Q3 2024. This relatively modest valuation is complemented by a strong operating income margin of 39.57% for the same period, indicating efficient operations.
VABK has also experienced significant share price appreciation, with InvestingPro data revealing a remarkable 64.54% price total return over the past six months. This performance is reflected in the InvestingPro Tip highlighting a "high return over the last year" and a "large price uptick over the last six months."
For investors seeking a deeper understanding of VABK's financial health and growth prospects, InvestingPro offers additional insights, with 5 more tips available on the platform.
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