Bankshares of Fayetteville declares dividend
by March 28, 2013 10:17 am 124 views
Bank of Fayetteville shareholders will get paid a cash dividend for the first time in four years as the bank’s profits have strengthened, according to president and CEO Mary Beth Brooks.
Brooks said the 40 cent per share dividend is a way to give back to loyal shareholders, and she’s pleased the bank is in a position to do so.
The shares are thinly traded, but were priced today (March 28) at $20.60, up 15 cents. The share price has risen from $7.20 in the past 52-weeks.
The Bank of Fayetteville profits rose 91.3% in 2012, from the prior year. The bank reported 2012 net income of $2.032 million, up from $1.062 million in 2011. Since 2010 bank profitability has recovered from total profits of $157,000, according to regulatory filings with the Federal Deposit Insurance Corp.