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WEST POINT, VA - C&F Financial Corporation (NASDAQ:CFFI), a state commercial bank, announced the results of its Annual Meeting of Shareholders conducted on Tuesday. Shareholders voted on several key matters including the election of directors, executive compensation, and the appointment of the company’s independent auditor for the upcoming fiscal year.
The election saw four Class II directors appointed to serve until the 2028 Annual Meeting. The elected directors are Audrey D. Holmes, Elizabeth R. Kelley, James T. Napier, and Paul C. Robinson. Each director received a majority of votes with the lowest being 1,860,205 for Robinson and the highest 1,886,481 for Kelley. A significant number of broker non-votes were reported, which did not affect the election outcome.
Additionally, the compensation of the corporation’s named executive officers received approval through an advisory, non-binding vote. The tally showed 1,796,298 votes in favor, with 67,278 against and 77,994 abstentions. The frequency of future advisory votes on executive compensation was also decided, with a majority favoring an annual review. Notably, C&F Financial has maintained dividend payments for 28 consecutive years, with a current dividend yield of 3.1%.
In another advisory vote, shareholders ratified the appointment of Yount, Hyde & Barbour, P.C. as the independent registered public accountant for the fiscal year ending December 31, 2025. The decision was nearly unanimous, with 2,559,038 votes for, 60,255 against, and only 2,024 abstentions.
The meeting, which saw a quorum with 2,621,317 shares represented, concluded with all proposed resolutions passing. The results reflect shareholder confidence in the current board’s direction and the corporation’s executive compensation policies. Investors can access additional insights and 5 more exclusive ProTips through InvestingPro, including detailed analysis of the company’s upcoming earnings report scheduled for April 25, 2025.
The disclosed information is based on the latest 8-K filing by C&F Financial Corporation with the Securities and Exchange Commission.
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