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8-K - CURRENT REPORT - Virginia National Bankshares Corp | vnb30097825-8k.htm |
EXHIBIT 99.1
PRESS STATEMENT
FOR IMMEDIATE DISTRIBUTION
VIRGINIA NATIONAL
BANKSHARES CORPORATION
ANNOUNCES DIVIDEND INCREASE
Charlottesville, VA May 17, 2017 Virginia National Bankshares Corporation (the Company) (OTCQX: VABK) announced that its Board of Directors declared a quarterly cash dividend of $0.16 per share on May 16, 2017 to be paid on July 12, 2017 to shareholders of record as of June 30, 2017, an increase from the prior quarterly cash dividend of $0.13. This dividend represents an annual yield to shareholders of approximately 1.88% based on the closing price of the Companys stock on May 16, 2017.
We are pleased to announce another increase in our quarterly dividend, said Glenn Rust, President and Chief Executive Officer. The increase in our dividend reflects our commitment to enhancing shareholder value.
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, one in Winchester and one in Orange, as well as a loan production office in Harrisonburg. The Bank offers a full range of banking and related financial services to meet the needs of individuals, businesses and charitable organizations. Investment management, wealth advisory, and trust and estate services are offered through VNB Wealth Management, the trade name of VNBTrust, N.A., the Banks wholly owned subsidiary. Retail brokerage and investment advisory services are offered under the name of VNB Investment Services.
The Companys stock trades on the OTC Markets Groups 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 |