0001572334false00015723342024-02-282024-02-28

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 28, 2024

 

 

VIRGINIA NATIONAL BANKSHARES CORPORATION

(Exact name of Registrant as Specified in Its Charter)

 

 

Virginia

001-40305

46-2331578

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

404 People Place

 

Charlottesville, Virginia

 

22911

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (434) 817-8621

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

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:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common Stock

 

VABK

 

The Nasdaq Stock Market LLC

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 February 28, 2024, the Company's Board of Directors declared a quarterly cash dividend of $0.33 per share to be paid on March 28, 2024 to shareholders of record as of March 14, 2024.

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:

 

Exhibit No. Description

99.1 Press statement issued by Virginia National Bankshares Corporation on February 29, 2024.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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.

 

 

 

VIRGINIA NATIONAL BANKSHARES CORPORATION

 

 

 

 

Date:

February 29, 2024

By:

/s/ Tara Y. Harrison

 

 

 

Tara Y. Harrison
Executive Vice President and Chief Financial Officer

 

 

Exhibit 99.1

 

img2203825_0.jpg 

 

 

PRESS STATEMENT

FOR IMMEDIATE DISTRIBUTION

 

 

 

VIRGINIA NATIONAL BANKSHARES CORPORATION ANNOUNCES

QUARTERLY CASH DIVIDEND

Charlottesville, VA – February 29, 2024 - Virginia National Bankshares Corporation (the “Company”) (NASDAQ: VABK) announced today that on February 28, 2024 its Board of Directors declared a quarterly cash dividend of $0.33 per share to be paid on March 28, 2024 to shareholders of record as of March 14, 2024. The quarterly cash dividend represents an annual yield to shareholders of approximately 4.42% based on the closing price of the Company’s common stock on February 28, 2024.

 

About Virginia National Bankshares Corporation

Virginia National Bankshares Corporation, headquartered in Charlottesville, Virginia, is the bank holding company for Virginia National Bank. The Bank has eight banking offices throughout Fauquier and Prince William counties, three banking offices in Charlottesville and Albemarle County, and banking offices in Winchester and 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. Investment management services are offered through Masonry Capital Management, LLC, a registered investment adviser and wholly-owned subsidiary of the Company.

 

The Company’s common stock trades on the Nasdaq Capital 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

 

 

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Entity Registrant Name VIRGINIA NATIONAL BANKSHARES CORPORATION
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Title of 12(b) Security Common Stock
Trading Symbol VABK
Security Exchange Name NASDAQ
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