Pinnacle Bankshares Corporation Announces Quarterly Cash Dividend
Pinnacle Bankshares Corporation, often referred to simply as Pinnacle, has confirmed a cash dividend of $0.25 per share. This announcement comes as good news for the shareholders of Pinnacle, denoted under the ticker symbol OTCQX: PPBN, as the company continues its tradition of rewarding its investors.
Details of the Dividend Declaration
The announcement was made following a meeting held on February 11, with the dividend slated for payment on March 7 to those shareholders who are on record as of February 21. This marks an impressive achievement for Pinnacle, as it signifies the fiftieth consecutive quarter that a dividend has been declared.
Response from Leadership
Aubrey H. Hall, III, the President and Chief Executive Officer of Pinnacle and First National Bank, expressed pride in the decision to maintain a consistent dividend. "We are pleased to declare this cash dividend once more, as it reflects our solid operational performance and our commitment to providing value to our shareholders," said Mr. Hall. The decision to maintain the $0.25 dividend is indicative of Pinnacle's resilience and strategic management among changing market dynamics.
Pinnacle's Community Banking Presence
Pinnacle Bankshares Corporation operates as a local community bank with a focus on serving Central and Southern Virginia. It encompasses the First National Bank, and together they cater to a range of markets including several counties and cities in the region. The organization manages a total of nineteen branches, ensuring its presence is felt within the communities it serves.
Branch Locations
All branches, including a recently opened Loan Production Office in the South Boston area, contribute to the company’s longstanding commitment to community banking. With deep roots in the region, Pinnacle's branches are strategically placed to meet the financial needs of local customers.
Company Growth and Sustainability
Under the leadership of Mr. Hall, Pinnacle Bankshares Corporation has not only achieved consistent dividends but has also fostered growth and sustainability. The institution prides itself on being a reliable partner for both personal and business banking services.
Looking Forward
As Pinnacle looks ahead, the company remains steadfast in its commitment to navigate potential market challenges while ensuring robust service to its customers. With its significant history—First National Bank has been in operation for over 117 years—Pinnacle Bankshares Corporation is well-positioned to continue supporting its community and delivering value to its shareholders.
Frequently Asked Questions
What is the amount of the dividend declared by Pinnacle Bankshares Corporation?
Pinnacle Bankshares Corporation has declared a cash dividend of $0.25 per share.
When will the dividend be paid?
The dividend is scheduled for payment on March 7 to shareholders of record as of February 21.
How many consecutive quarters has Pinnacle declared dividends?
This marks the fiftieth consecutive quarter that Pinnacle has declared a dividend.
Who is the President of Pinnacle Bankshares Corporation?
Aubrey H. Hall, III serves as the President and Chief Executive Officer of Pinnacle Bankshares Corporation.
What is Pinnacle Bankshares Corporation's focus area?
Pinnacle Bankshares Corporation primarily serves Central and Southern Virginia, emphasizing community banking.
