Virginia National Bankshares Corp 8-K, filed Sep 25, 2020
Virginia National Bankshares Corp (VABK)
About this 8-K
Virginia National Bankshares Corp filed this 8-K on September 25, 2020, reporting on events of September 23, 2020.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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OTCQX |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On September 23, 2020, the Company’s Board of Directors declared a quarterly cash dividend of $0.30 per share to be paid on October 21, 2020 to shareholders of record as of October 7, 2020.
A copy of the Company’s press statement announcing the quarterly cash dividend is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
The following exhibit(s) are furnished herewith:
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Exhibit No. |
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Description |
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104 |
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Press statement issued by Virginia National Bankshares Corporation on September 25, 2020. Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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VIRGINIA NATIONAL BANKSHARES CORPORATION |
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Dated: September 25, 2020 |
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/s/ Tara Y. Harrison |
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Tara Y. Harrison |
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Executive Vice President and Chief Financial Officer |
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Exhibit 99.1
PRESS STATEMENT
FOR IMMEDIATE DISTRIBUTION
September 25, 2020
VIRGINIA NATIONAL BANKSHARES CORPORATION ANNOUNCES CASH DIVIDEND
Charlottesville, VA –Virginia National Bankshares Corporation (the “Company”) (OTCQX: VABK) announced today that on September 23, 2020, its Board of Directors declared a quarterly cash dividend of $0.30 per share to be paid on October 21, 2020 to shareholders of record as of October 7, 2020. The quarterly cash dividend represents an annual yield to shareholders of approximately 5.05% based on the closing price of the Company’s common stock on September 24, 2020.
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 and one in Winchester, and offers loan, deposit and treasury management services in Harrisonburg, Mechanicsville, Richmond and Roanoke, Virginia. During the first quarter of 2020, the Bank entered into a lease for branch and office space in Richmond, Virginia. The Bank offers a full range of banking and related financial services to meet the needs of individuals, businesses and charitable organizations, including the fiduciary services of VNB Trust and Estate Services. The Bank offers investment advisory services under the name of Sturman Wealth Advisors. Investment management services are offered through Masonry Capital Management, LLC, a registered investment adviser and wholly-owned subsidiary of the Company.
The Company’s stock trades on the OTC Markets Group’s 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