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STRASBURG, VA - First National Corporation (NASDAQ:FXNC), a Virginia-based state commercial bank with a market capitalization of $233 million, has announced a quarterly cash dividend for its shareholders. The company’s Board of Directors declared on February 12, 2025, a dividend of $0.155 per common share, representing an annual yield of 2.38%.
This dividend is payable on March 14, 2025, to shareholders of record as of February 28, 2025. According to InvestingPro analysis, the stock is currently trading above its Fair Value.
The declaration of this dividend follows the company’s consistent practice of returning value to its shareholders and reflects its financial health and commitment to its dividend policy. InvestingPro data reveals that First National Corporation has maintained and raised its dividend for 11 consecutive years, demonstrating a strong track record of shareholder returns.
The company’s dividend decisions are typically based on its performance, financial stability, and future investment needs, with analysts expecting continued profitability and net income growth this year.
Investors and market watchers often view dividend announcements as an indicator of a company’s confidence in its current financial position and outlook. The stock has shown remarkable momentum, posting a 59% return over the past six months and currently trading near its 52-week high of $26.97.
Dividends are also a key factor for income-focused investors when assessing the attractiveness of a stock. InvestingPro subscribers have access to 10 additional investment tips and comprehensive financial metrics for FXNC.
The announcement was made in a Form 8-K filing with the Securities and Exchange Commission (SEC) on February 13, 2025, as per regulatory requirements. Trading at a P/E ratio of 26x, the stock currently commands a premium valuation, which can be explored further through detailed valuation metrics available on InvestingPro. The filing provides shareholders and the public with timely information on events that could affect their investment decisions.
First National Corporation is listed on The Nasdaq Stock Market LLC, where its common stock trades under the ticker symbol FXNC. The company is headquartered in Strasburg, Virginia, where it operates its principal executive offices.
This dividend distribution is part of the company’s financial events reported to the SEC and does not necessarily indicate changes in the company’s long-term strategic direction or its overall financial stability. It is a routine financial activity that falls under the company’s regular financial operations.
For more detailed information, investors and interested parties can refer to the full Form 8-K filing made by First National Corporation with the SEC. The information provided in this article is based on the press release statement from the company.
In other recent news, First National Corporation announced the resignation of Executive Vice President and CFO M. Shane Bell, who is leaving to pursue another business opportunity. His departure is not due to any disagreements with the company’s operations, policies, or practices.
Following Bell’s resignation, Bruce E. Thomas has been named the interim CFO for both First National Corporation and its wholly-owned subsidiary, First Bank (NASDAQ:FRBA). Thomas, 61, has significant experience, having served as Senior Vice President of Finance at First Bank since 2022 and, prior to that, as Executive Vice President and CFO at Essex Bank and Community Bankers (NASDAQ:ESXB) Trust Corporation. These recent developments come as the banking industry navigates a complex economic environment.
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