Bankshares of Fayetteville Inc. Declares Dividend (Updated)

Mary Beth Brooks, president and CEO of Bankshares of Fayetteville Inc., said Thursday the company will pay shareholders a cash dividend of 40 cents per share on the bank’s common stock.

Bankshares of Fayetteville Inc. is the holding company for The Bank of Fayetteville.

“I’m pleased to announce our board of directors’ approval of the declaration of a cash dividend,” Brooks said in a company-issued news release. “Our performance has been steadily improving, and we find ourselves for the first time in over four years in the financial position to give back to our shareholders in the form of a dividend.”

The dividend was paid March 27 to shareholders of record on Feb. 20, according to a bank spokesman. It was a one-time dividend and no more are expected this year.

The company’s over-the-counter stock was trading at a one-year high of $22 early Friday morning. The stock was trading at $11 as recently as Jan. 22.