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QNB Corp . (OTC:QNBC), a Pennsylvania-based state commercial bank with a market capitalization of $130 million, held its Annual Meeting of Shareholders on Tuesday, May 20, 2025. According to InvestingPro data, the bank has maintained dividend payments for 29 consecutive years and currently offers a 4.3% dividend yield. The company’s shares are trading near their 52-week high of $35.98, reflecting a strong year with a 56.6% return. Several key proposals were voted upon, as detailed in the Proxy Statement dated April 8, 2025. The meeting’s outcomes, based on the votes of shareholders, are summarized below.
Proposal No. 1 involved the election of Class I Directors for a three-year term. Autumn R. Bayles, David W. Freeman, and Ranajoy Ray-Chaudhuri were the directors up for election. Bayles received 1,845,207 votes for and 47,846 withheld, Freeman had 1,854,287 votes for and 38,766 withheld, and Ray-Chaudhuri secured 1,843,599 votes for with 49,454 withheld. All three directors experienced broker non-votes totaling 479,279.
Proposal No. 2, which sought approval for the compensation of named executive officers, resulted in 1,821,422 votes for, 62,497 against, and 9,134 abstentions, with broker non-votes tallying 479,279. The strong shareholder support aligns with the company’s solid financial performance, as InvestingPro analysis shows the bank trading at an attractive P/E ratio of 11.3, suggesting efficient management of resources. Additional financial insights and metrics are available through InvestingPro’s comprehensive analysis tools.
The third proposal was to decide the frequency of future advisory votes on the compensation of named executive officers. The option of every three years received 1,611,163 votes, the two-year choice had 35,555 votes, and the annual option garnered 227,732 votes, with 18,603 abstentions and 479,279 broker non-votes.
Proposal No. 4 addressed the ratification of Baker Tilly US, LLP as QNB’s independent registered public accounting firm for 2025. This proposal received substantial support with 2,312,428 votes for, 46,711 against, and 13,193 abstentions.
Finally, Proposal No. 5, which concerned the approval of the QNB Corp. 2025 Equity Incentive Plan, saw 1,739,149 votes for, 136,040 against, and 17,864 abstentions, with broker non-votes at 479,279.
The results of the Annual Meeting reflect shareholder support for the proposed actions, including the compensation of the company’s named executive officers and the ratification of the company’s choice of accounting firm. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading near its fair value, with multiple additional ProTips available for subscribers. The information provided herein is based on the 8-K filing with the Securities and Exchange Commission and enhanced with InvestingPro’s financial analytics.
In other recent news, QNB Corp. has declared a quarterly cash dividend of $0.38 per share, scheduled to be paid on June 27, 2025, to shareholders of record as of June 13, 2025. This announcement reflects the company’s ongoing commitment to returning value to its shareholders, a practice that is closely monitored by investors. Additionally, QNB Corp. has begun trading on the OTCQX Best Market, having upgraded from the Pink market. This move is seen as a significant enhancement in the company’s visibility and accessibility to investors. The OTCQX Best Market requires companies to meet high financial standards and adhere to best practice corporate governance. David W. Freeman, President and CEO of QNB Corp., expressed optimism about this transition, which he believes will attract broader investor interest. These developments are expected to provide QNB Corp. with increased exposure and liquidity, benefiting shareholders with transparent trading and easy access to company information.
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