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Bank of Botetourt Directors Declare Special Stock Dividend
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BUCHANAN, Va., Nov. 29, 2021 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT) announced today that its Board of Directors, at its November 23, 2021 meeting, approved a 10% common stock dividend payable on December 17, 2021 to shareholders of record at the close of business on November 30, 2021. Fractional shares will be distributed to shareholders who currently own fractional shares through the Bank's Dividend Reinvestment Program ("DRP – Common"). No fractional shares will be issued for Book Entry or Street Shares, and shareholders will receive cash-in-lieu of fractional shares based on a per share price of $31.50, which is the undiscounted three-week volume weighted average price per share used in the November 19, 2021 calculation for DRP purchases. Statements reflecting the issuance of the shares as a result of the stock dividend will be mailed on or about December 22, 2021.
"We are proud of the performance and success of the Bank in 2021, acknowledging and appreciating the hard work of our employees during the ongoing pandemic. We are grateful for our shareholders' steadfast loyalty. Our Board felt it was an appropriate time to reward and allow them to share in the success of the Bank through a special stock dividend. As the largest community bank headquartered and remaining in the Roanoke Metropolitan Statistical Area, this Board action shows confidence in our Bank's viability, outlook, and vision." stated Tommy L. Moore, Chairman of the Board of Directors.
About Bank of Botetourt Bank of Botetourt was chartered in 1899 and operates thirteen retail offices in Botetourt, Rockbridge, Roanoke, and Franklin counties, the City of Salem, and the Town of Vinton, all in Virginia. Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management.
at bank of botetourt "taking care of you" is more than a slogan, it's our promise to the community. for over 100 years, bank of botetourt has been committed to reaching out within our local communities to do all we can to further the area's overall economic development. as a community partner, we make charitable contributions for education, culture and the arts, social service agencies, charitable activities, community and economic development, and other programs that impact the needs of our communities. by bridging the needs of our local communities with the resources of bank of botetourt, we help to improve the quality of life for residents in our service areas. we realize that we can only be as successful as the communities we serve!
View original content:https://www.prnewswire.com/news-releases/bank-of-botetourt-directors-declare-special-stock-dividend-301432435.html