First National Corp. Rewards Shareholders With a 3.3% Dividend Hike

Zacks11-18

First National Corporation FXNC hiked its quarterly cash dividend by 3.3% to 15.5 cents per share. The dividend will be paid out on Dec. 13, 2024, to shareholders of record as of Nov. 29.FXNC has ...

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The dividend will be paid out on Dec. 13, 2024, to shareholders of record as of Nov. 29.FXNC has ...</p>\n\n<a href=\"https://finance.yahoo.com/news/first-national-corp-rewards-shareholders-144200794.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>First National Corp. 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Rewards Shareholders With a 3.3% Dividend Hike\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-18 22:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/first-national-corp-rewards-shareholders-144200794.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>First National Corporation FXNC hiked its quarterly cash dividend by 3.3% to 15.5 cents per share. The dividend will be paid out on Dec. 13, 2024, to shareholders of record as of Nov. 29.FXNC has ...</p>\n\n<a href=\"https://finance.yahoo.com/news/first-national-corp-rewards-shareholders-144200794.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ZION","symbol_name":"齐昂银行","start_time":0,"source_url":"https://finance.yahoo.com/news/first-national-corp-rewards-shareholders-144200794.html","article_id":"2484603858","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/urh9kFHgpMG9FrsFlUHKyA--~B/aD0zOTE7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/c6fad3ca7c16d98ecfc2bf948f4cf143"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484603858","pubTimestamp":1731940920,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"First National Corporation FXNC hiked its quarterly cash dividend by 3.3% to 15.5 cents per share. The dividend will be paid out on Dec. 13, 2024, to shareholders of record as of Nov. 29.FXNC has raised its dividend consecutively in the last 10 years. Before the recent hike, the bank increased its dividend by 7.1% to 15 cents per share in February 2023. The bank has a dividend payout ratio of 48%.Based on its closing price of $23.80 as of Nov. 15, FXNC’s current dividend yield is 2.6%.First National Corp.’s Other Capital Distribution Activities. At present, FXNC does not have a repurchase program. The previous plan, announced in October 2022, authorized the buyback of up to $5 million worth of shares and expired on Dec. 31, 2023.Before that, the company had announced a $5 million repurchase plan in December 2019, which expired in December 2020.First National Corp.  : Free Stock Analysis Report","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ZION":"齐昂银行","BK4589":"SVB概念","BK4585":"ETF&股票定投概念","PB":"Prosperity Bancshares Inc","BK4588":"碎股","BK4211":"区域性银行","FXNC":"First National Corp"},"translate_title":"First National Corp.将股息提高3.3%奖励股东","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FXNC":1,"PB":1,"ZION":1},"content_text":"First National Corporation FXNC hiked its quarterly cash dividend by 3.3% to 15.5 cents per share. The dividend will be paid out on Dec. 13, 2024, to shareholders of record as of Nov. 29.FXNC has raised its dividend consecutively in the last 10 years. Before the recent hike, the bank increased its dividend by 7.1% to 15 cents per share in February 2023. The bank has a dividend payout ratio of 48%.Based on its closing price of $23.80 as of Nov. 15, FXNC’s current dividend yield is 2.6%.\nFirst National Corp.’s Other Capital Distribution Activities\nAt present, FXNC does not have a repurchase program. The previous plan, announced in October 2022, authorized the buyback of up to $5 million worth of shares and expired on Dec. 31, 2023.Before that, the company had announced a $5 million repurchase plan in December 2019, which expired in December 2020.\nOur Take on FXNC Stock\nFXNC enjoys a decent balance sheet position. As of Sept. 30, 2024, cash and cash equivalents were $126.5 million and other borrowings were $50 million. Further, net loans were $982 million and total deposits were $1.3 billion.Further, at the end of the third quarter of 2024, its common equity Tier-1 capital ratio of 13% and the total capital ratio of 14.3% were well above regulatory requirements.Given its decent capital and liquidity positions, FXNC is expected to sustain its current capital distribution activities and enhance shareholder value.Year to date, shares of First National have risen 9.4% compared with the industry’s growth of 29%.\nImage Source: Zacks Investment Research\nCurrently, FXNC carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nOther Banks That Announced Dividend Hike\nEarlier this month, Zions Bancorporation ZION hiked its quarterly cash dividend by 4.9% to 43 cents per share. The dividend will be paid out on Nov. 21, 2024, to shareholders of record as of Nov. 15.Before this, ZION increased its dividend by 7.9% to 41 cents per share in July 2022. The bank has increased its dividend thrice in the last five years, with a dividend payout ratio of 33%.Similarly, last month, Prosperity Bancshares, Inc. PB announced a quarterly cash dividend of 58 cents per share. This indicates an increase of 3.6% from the prior payout. The dividend will be paid out on Jan. 2, 2025, to shareholders of record as of Dec. 13, 2024.PB has increased its dividend six times during the last five years with an annualized dividend growth of 5%. The bank has a dividend payout ratio of 45%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nZions Bancorporation, N.A. (ZION) : Free Stock Analysis Report\nProsperity Bancshares, Inc. (PB) : Free Stock Analysis Report\nFirst National Corp. (FXNC) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484603858"}