Virginia National Bankshares Corporation (NASDAQ: VABK) announced on November 9, 2026, that its Board of Directors has declared two dividend distributions. The company declared an 8% stock dividend to be paid on November 30, 2026. Shareholders of record as of November 20, 2026, will receive 0.08 shares of common stock for every share held. Fractional shares will be paid in cash.
In addition to the stock dividend, the Board declared a quarterly cash dividend of $0.38 per share of common stock. This represents an increase of $0.02 per share compared to the previous quarter. The cash dividend is scheduled to be paid on December 15, 2026, to shareholders of record as of December 1, 2026.
The company noted that the stock dividend will take effect first, meaning the cash dividend will be paid on the increased number of shares resulting from the stock dividend. Based on the closing stock price on November 9, 2026, the quarterly cash dividend implies an annualized yield of approximately 2.85%.
The Board's actions are expected to increase the total number of outstanding shares of common stock by approximately 430,000. This would raise the total number of shares outstanding from 5.4 million to 5.9 million shares.
