Old Point Financial's Steady Dividend Reflects Strong Performance
Old Point Financial Corporation Announces Quarterly Dividend
Old Point Financial Corporation, a significant player in the financial services industry, has declared a quarterly cash dividend of $0.14 per share for its common stock. This announcement echoes stability as the dividend matches the amount disbursed in the previous quarter.
Dividend Details and Shareholder Impact
This cash dividend reflects the corporation's continued commitment to rewarding its shareholders. Payments are scheduled to be distributed on March 28 to shareholders who are officially recorded as of March 5. Based on the stock's closing price of $29.73, the annual yield from dividends approximates to 1.9%, underscoring the company’s aim to provide a substantial return on investment.
About Old Point Financial Corporation
Old Point Financial Corporation (NASDAQ: OPOF) operates as the parent company of Old Point National Bank and Old Point Wealth Management. These institutions cater to customers primarily located in Virginia, particularly in Hampton Roads and Richmond. Old Point National Bank prides itself on being a locally owned community bank that offers a comprehensive range of financial services such as checking accounts, mortgages, insurance, and commercial lending.
Services Offered
In addition to standard banking services, Old Point Wealth Management stands out as the largest provider of wealth management services in Hampton Roads. With a focus on local asset management, they employ experienced professionals who work diligently to help clients manage their investments effectively.
Commitment to Community
Old Point Financial Corporation emphasizes the importance of community engagement and regional support. By providing tailored financial services, they contribute to the economic growth and stability of the areas they serve.
Conclusion and Future Outlook
With a steadfast dividend policy and an extensive portfolio of services, Old Point Financial Corporation is strategically positioned for future growth. As it continues to navigate the financial landscape, the bank’s emphasis on reliability and shareholder value remains a key focus. Investors can expect consistent performance from Old Point Financial, especially with the upcoming dividend payments confirming their strong financial management.
Frequently Asked Questions
What is the amount of the quarterly dividend announced?
The quarterly dividend announced is $0.14 per share.
When will the dividend be paid to shareholders?
The dividend will be paid on March 28 to shareholders recorded by March 5.
What is the annual dividend yield based on the stock price?
The annual dividend yield is approximately 1.9% based on a stock price of $29.73.
Who is the parent company of Old Point National Bank?
The parent company of Old Point National Bank is Old Point Financial Corporation.
In which regions does Old Point Financial Corporation operate?
Old Point Financial Corporation operates primarily in the Hampton Roads and Richmond regions of Virginia.
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