First National Corp. (NASDAQ:FXNC) to Issue Quarterly Dividend of $0.17

First National Corp. (NASDAQ:FXNC) announced a quarterly dividend on Wednesday, August 12th. Shareholders of record on Friday, August 28th will be paid a dividend of 0.17 per share on Friday, September 11th. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, August 28th.

First National has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 10 consecutive years. First National has a payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First National to earn $2.58 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 26.4%.

First National Stock Performance

First National stock traded down $0.30 during midday trading on Friday, reaching $31.87. 6,033 shares of the company traded hands, compared to its average volume of 65,517. First National has a 12 month low of $21.58 and a 12 month high of $33.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day moving average of $30.14 and a two-hundred day moving average of $28.35. The firm has a market capitalization of $288.10 million, a price-to-earnings ratio of 13.28 and a beta of 0.42.

First National (NASDAQ:FXNC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. First National had a return on equity of 11.62% and a net margin of 18.43%.The company had revenue of $23.93 million during the quarter, compared to analyst estimates of $23.45 million. As a group, research analysts predict that First National will post 2.44 earnings per share for the current year.

First National Company Profile

First National Corporation operates as the bank holding company for First Bank that provides various commercial banking services to small and medium-sized businesses, individuals, estates, local governmental entities, and non-profit organizations in Virginia. The company's deposit products include checking, savings, money market, and individual retirement accounts, as well as certificates of deposit and treasury management solutions. Its loan products comprise construction loans, including residential, land acquisition, and development loans; 1-4 family residential real estate loans; and commercial real estate loans that are secured by commercial real estate, including multi-family residential buildings, office and retail buildings, hotels, industrial buildings, and religious facilities.