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Ohio Valley Banc Corp. (NASDAQ:OVBC), a regional bank with a market capitalization of $169.36 million, announced the results of its annual shareholder meeting held on May 14, 2025. According to InvestingPro data, the company has maintained dividend payments for 32 consecutive years, currently offering a 2.57% yield. Shareholders voted on several key proposals, including the election of directors and the ratification of the company’s independent registered public accounting firm for the upcoming fiscal year.
The company, headquartered in Gallipolis, Ohio, which has achieved impressive revenue growth of 10.84% over the last twelve months, reported that approximately 80.94% of the outstanding common shares entitled to vote were represented at the meeting. The three individuals elected to the Board of Directors for a term expiring in 2028 received the following votes: Larry E. Miller II with 3,300,781 votes for, Edward J. Robbins with 3,087,877 votes for, and K. Ryan Smith with 3,126,460 votes for. Votes withheld ranged from 83,423 to 296,327 for the directors, and each director also had 428,762 broker non-votes.
In a non-binding advisory vote, shareholders approved the compensation of the company’s named executive officers, with 3,129,303 votes for, 213,055 votes against, and 41,846 abstentions. There were also 428,762 broker non-votes for this proposal.
Additionally, the selection of Plante & Moran PLLC as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified with an overwhelming majority. The accounting firm received 3,749,810 votes for, 24,239 votes against, and 38,917 abstentions.
The detailed results of the meeting are in line with the company’s proxy statement filed on April 4, 2025. The filing with the Securities and Exchange Commission was signed by Larry E. Miller II, President and Chief Executive Officer, on behalf of Ohio Valley Banc Corp.
This news is based on the latest 8-K filing by Ohio Valley Banc Corp. with the SEC. The company’s stock has shown remarkable performance, with a total return of 56.95% over the past year and 50.15% year-to-date. For more detailed financial analysis and additional insights, including 5 more exclusive ProTips, visit InvestingPro.
In other recent news, Ohio Valley Banc Corp. reported a significant 57.8% increase in net income for the first quarter of 2025, reaching $4.4 million. Earnings per share rose to $0.94, compared to $0.58 in the same period last year. The company attributed this growth to strategic decisions that enhanced earning assets and improved net interest margins. Additionally, Ohio Valley Banc Corp. declared a cash dividend of $0.23 per share, marking a 4.55% increase from the previous quarter. This dividend is set to be paid on May 10, 2025, to shareholders of record as of April 25, 2025. The company’s Board of Directors expressed confidence in its financial stability despite current economic challenges. The increase in dividend payout is seen as a positive indicator of Ohio Valley Banc Corp.’s profitability and management’s optimistic outlook. These developments were highlighted in recent press releases and filings with the Securities and Exchange Commission.
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