Virginia National Bankshares Corporation (the "Company") (NASDAQ: VABK) announced today that on May 22, 2024 its Board of Directors declared a quarterly cash dividend of $0.33 per share to be paid on June 28, 2024 to shareholders of record as of June 14, 2024. The quarterly cash dividend represents an annual yield to shareholders of approximately 4.37% based on the closing price of the Company's common stock on May 23, 2024.
In recent sessions, U.S. stock markets have experienced volatility as investors reacted to the Federal Reserve's decision to maintain interest rates, amidst ongoing concerns about inflation and economic stability. This backdrop of uncertainty makes it an opportune time to consider the resilience and potential steady returns of dividend stocks, particularly those with substantial yields.
Amid a backdrop of sharp declines in U.S. stocks and heightened concerns about inflation and interest rate policies, investors are navigating a challenging economic landscape. In such times, dividend stocks often come into focus as potential stabilizers in investment portfolios due to their potential for providing regular income streams.