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

First National Corp. (NASDAQ:FXNC) announced a quarterly dividend on Wednesday, May 13th. Stockholders of record on Friday, May 29th will be given a dividend of 0.17 per share on Friday, June 12th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, May 29th.

First National has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 10 years. First National has a dividend payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First National to earn $2.54 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 26.8%.

First National Stock Performance

Shares of FXNC traded down $0.42 during midday trading on Friday, reaching $26.51. 29,219 shares of the stock were exchanged, compared to its average volume of 68,115. The business’s 50-day moving average price is $27.35 and its 200 day moving average price is $26.07. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.87. First National has a twelve month low of $18.31 and a twelve month high of $29.85. The company has a market capitalization of $239.61 million, a price-to-earnings ratio of 11.38 and a beta of 0.44.

First National (NASDAQ:FXNC) last posted its earnings results on Thursday, April 30th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. First National had a return on equity of 11.61% and a net margin of 17.94%.The business had revenue of $22.50 million for the quarter, compared to analysts’ expectations of $23.30 million. On average, sell-side analysts expect that First National will post 2.35 EPS for the current fiscal year.

About First National

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.