BUCHANAN, Va., Feb. 12, 2016 /PRNewswire/ -- Bank of Botetourt's (OTCPK: BORT) Board of Directors voted to increase its quarterly dividend payment to $0.12 per share. The $0.02 per share increase over last quarter's dividend represents a 20.0% increase in the quarterly dividend payment. The cash dividend is payable February 19, 2016 to shareholders of record on February 12, 2016.
CEO G. Lyn Hayth, III states, "This action shows our Board of Directors' commitment to providing a return to shareholders as one of its top priorities. Our Board and Management deem that earnings and capital level trends have been sustained over time and another increase in dividend payment is warranted."
Bank of Botetourt has been serving the banking needs of our region since 1899. With ten branches located across Botetourt, Rockbridge, Roanoke, Smith Mountain Lake, and Lexington, a Business Center, Care Center, and Virginia Mountain Mortgage division, it is dedicated to providing customers with unparalleled service and products. Bank of Botetourt is a strong community partner and they make charitable contributions for education, culture and the arts, social service agencies, philanthropic activities, community and economic development, and other programs that impact the needs of the communities it serves.
SOURCE Bank of Botetourt