Bank of McKenney Maintains Its Prior Year's Declaration of Twenty-Seven Cents per Share
MCKENNEY, Va., Dec. 15, 2010 /PRNewswire-FirstCall/ -- Bank of McKenney (OTC Bulletin Board: BOMK) today announced that the Board of Directors of Bank of McKenney declared a dividend of $0.27 per share on Bank of McKenney common and preferred classes of stock for shareholders of record at the close of normal trading on December 31, 2010 and payable on January 14, 2011. The $0.27 per share dividend matches that paid in January of 2010.
Richard M. Liles, President & Chief Executive Officer, stated, "Earnings over the current year have accelerated despite continued and abnormally high provisions to our loan reserves. Core growth has been quite steady and at a pace commensurate with current capital levels. We held our dividend steady throughout the recent financial crisis and economic recession. Therefore, the Board determined that maintaining the dividend at twenty-seven cents was the best course of action and continues to demonstrate the strength of the company."
Bank of McKenney is a full-service community bank headquartered in McKenney, Virginia with six branches serving Southeastern Virginia and assets totaling $192 million.
SOURCE Bank of McKenney
More by this Source
Bank of McKenney Increases Annual Dividend Per Share
Nov 14, 2013, 08:44 ET
Bank of McKenney's Profitability Continues
Oct 28, 2013, 15:48 ET
On Strong Loan Demand, A Growing Margin And A Return To Pre-Recession Reserve Provision Needs, Bank of McKenney Reports Best Second Quarter And Year-to-Date Results In Its 107 Year History
Jul 08, 2013, 16:05 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.