Business Context and Reporting Period
Company: Virginia National Bankshares Corp
Filing Type: Form 8-K (Current Report)
Date of Report: March 16, 2018
Event: Declaration of stock and cash dividends by the Board of Directors.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. It focuses exclusively on shareholder return actions.
- Stock Dividend: 5% (0.05 share for each share outstanding).
- Cash Dividend: $0.19 per share.
Material Changes
The filing announces a material change in the capital structure via a 5% stock dividend and a quarterly cash distribution. No comparative financial performance data is provided in this document.
Guidance, Outlook, and Unusual Items
Dividend Details:
- Stock Dividend Record Date: April 3, 2018.
- Stock Dividend Payment Date: April 13, 2018.
- Cash Dividend Record Date: April 3, 2018.
- Cash Dividend Payment Date: April 27, 2018.
- Fractional Shares: Shareholders will receive cash in lieu of fractional shares. The price will be based on the volume-weighted average price of the stock for the three trading days prior to the record date.
- Application: The cash dividend is payable on the increased share count resulting from the stock dividend.
Investor Verification Checklist
- Verify the exact number of shares held as of the April 3, 2018 record date to calculate total dividend entitlement.
- Confirm the volume-weighted average price of the stock for the three days prior to April 3, 2018, to estimate cash value for fractional shares.
- Review the full text of Exhibit 99.1 (Press Statement) for any additional context regarding the dividend declaration.
- Check subsequent filings for the actual payment execution and any tax implications of the stock dividend.