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 remain solid and another increase in dividend payment is warranted."
Participation in the Bank's Dividend Reinvestment and Stock Purchase Plan by existing shareholders surpassed a record high in 2016.
Bank of Botetourt was chartered in 1899 and operates twelve retail offices in Botetourt, Rockbridge, Roanoke, and Franklin counties and the City of Salem, all in Virginia and operates a mortgage division, Virginia Mountain Mortgage.
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SOURCE Bank of Botetourt