Old Point Financial Corporation Announces Increase in Quarterly Dividend

Rhea-AI Summary

Old Point Financial Corporation (OPOF) has declared a quarterly cash dividend of $0.14 per share, marking a 7.7% increase from the previous quarter and $0.01 more than the prior year's dividend. The dividend will be paid on March 31, 2023, to shareholders on record as of March 8, 2023. Based on the closing stock price of $25.95 on February 21, 2023, this results in a dividend yield of approximately 2.2%.

Positive

• Quarterly dividend increased by $0.01 per share, or 7.7%.
• Dividend yield approximates to 2.2%, providing income for shareholders.

Negative

• None.

News Market Reaction

-1.31%

1 alert

-1.31% News Effect

On the day this news was published, OPOF declined 1.31%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HAMPTON, Va., Feb. 22, 2023 /PRNewswire/ -- Old Point Financial Corporation declared a quarterly cash dividend of $0.14 per share on its common stock to be paid on March 31, 2023 to shareholders of record as of March 8, 2023. This dividend represents a $0.01 per share increase, or 7.7%, from the prior quarter's dividend and is also a $0.01 increase from the prior year's quarterly dividend level. Based on the stock's closing price of $25.95 on February 21, 2023, the dividend yield is approximately 2.2%. 

ABOUT OLD POINT FINANCIAL CORPORATION

Old Point Financial Corporation (Nasdaq: OPOF) is the parent company of Old Point National Bank and Old Point Wealth Management, which serve the Hampton Roads and Richmond regions of Virginia as well as operate a mortgage loan production office in Charlotte, North Carolina. Old Point National Bank is a locally owned and managed community bank which offers a wide range of financial services from checking, insurance, and mortgage products to comprehensive commercial lending and banking products and services. Old Point Wealth Management is the largest wealth management services provider headquartered in Hampton Roads, Virginia, offering local asset management by experienced professionals. Additional information about the company is available at oldpoint.com.

Contact:  Laura Wright, VP/Marketing Director, 757.728.1743

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SOURCE Old Point Financial Corporation

FAQ

What is the dividend amount declared by OPOF for Q1 2023?

Old Point Financial Corporation has declared a dividend of $0.14 per share.

When will the dividend be paid to shareholders of OPOF?

The dividend will be paid on March 31, 2023.

What is the dividend yield for OPOF based on its stock price?

The dividend yield for Old Point Financial Corporation is approximately 2.2%.

When is the record date for OPOF's dividend payment?

The record date for the dividend payment is March 8, 2023.