First National Corp. Declares $0.20 Quarterly Dividend

TL;DR

FNNC declared a $0.20/share dividend, payable Sept 27th. Keep holding.

AI Summary

First National Corporation announced on August 29, 2024, that its Board of Directors declared a quarterly cash dividend of $0.20 per share. This dividend is payable on September 27, 2024, to shareholders of record as of September 13, 2024. The company is incorporated in Virginia and its principal executive offices are located in Strasburg.

Why It Matters

This dividend declaration indicates the company's continued financial health and commitment to returning value to its shareholders.

Risk Assessment

Risk Level: low — The filing is a routine dividend declaration, which typically carries low risk.

Key Numbers

• $0.20 — Quarterly Dividend Per Share (Amount declared by the Board of Directors.)
• September 27, 2024 — Dividend Payment Date (Date shareholders will receive the dividend.)
• September 13, 2024 — Dividend Record Date (Date shareholders must be on record to receive the dividend.)

Key Players & Entities

• FIRST NATIONAL CORPORATION (company) — Registrant
• Virginia (location) — State of incorporation
• Strasburg (location) — City of principal executive offices
• $0.20 (dollar_amount) — Quarterly cash dividend per share
• September 27, 2024 (date) — Payment date for dividend
• September 13, 2024 (date) — Record date for dividend

FAQ

Key Financial Figures

• $1.25 — ch registered Common Stock , par value $1.25 per share FXNC The Nasdaq Stock Mark

Filing Documents

• fxnc20240828_8k.htm (8-K) — 38KB
• ex_719424.htm (EX-99.1) — 13KB
• ex_719424img002.jpg (GRAPHIC) — 4KB
• tslogo.jpg (GRAPHIC) — 6KB
• 0001437749-24-028269.txt ( ) — 200KB
• fxnc-20240829.xsd (EX-101.SCH) — 3KB
• fxnc-20240829_def.xml (EX-101.DEF) — 11KB
• fxnc-20240829_lab.xml (EX-101.LAB) — 15KB
• fxnc-20240829_pre.xml (EX-101.PRE) — 11KB
• fxnc20240828_8k_htm.xml (XML) — 3KB

07 Submission of Matters to a Vote of Security Holders

Item 5.07 Submission of Matters to a Vote of Security Holders. First National Corporatio n ( " First National " ) held a special meeting of its shareholders in virtual format on Thursday, August 29, 2024, at 10:00 a.m. related to the proposed merger (the "Merger") of Touchstone Bankshares, Inc. ("Touchstone") with and into First National. Of the 6,280,406 shares of First National's common stock outstanding and entitled to vote at the special meeting, there were present, in person or by proxy, 5,686,231 shares, representing approximately 91% of the total outstanding shares. At the special meeting, First National shareholders voted on three proposals, as described in the prospectus and joint proxy statement of First National and Touchstone d ated July 8, 2024, and cast their votes as described below. Proposal 1 - The Agreement and Plan of Merger Proposal First National's shareholders approved the merger agreement, pursuant to which Touchstone will merge with and into First National, and the transactions contemplated by the merger agreement, including the issuance of shares of First National common stock in the Merger. The following is a tabulation of the voting results: For Against Abstain Broker Non-Votes 5,188,365 484,351 13,515 0 Proposal 2 - The Amendment of First National' s Articles of Incorporation Proposal First National's shareholders approved an amendment to the Articles of Incorporation of First National to increase the number of authorized common shares from 8,000,000 to 16,000,000. The following is a tabulation of the voting results: For Against Abstain Broker Non-Votes 5,477,561 192,467 16,203 0 Proposal 3 - The Adjournment Proposal First National's shareholders approved a proposal to adjourn the special meeting, if necessary, to permit further solicitation of proxies in favor of Proposal 1 or Proposal 2. The adjournment of the special meeting was not necessary because First National's shareholders approved Proposal 1

01 Other Events

Item 8.01 Other Events. On September 3, 2024, First National and Touchstone issued a joint press release announcing that each company's shareholders, at separate meetings, approved the Merger. The joint press release announcing these shareholder approvals is attached as Exhibit 99.1 and is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. See Exhibit Index Below. Exhibit No. Description 99.1 Joint Press Release dated September 3, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FIRST NATIONAL CORPORATION Date: September 3, 2024 By: /s/ M. Shane Bell M. Shane Bell Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR