Bank of the James (BOTJ) Declares $0.06 Quarterly Dividend; 1.6% Yield

Bank of the James (NASDAQ: BOTJ) declared a quarterly dividend of $0.06 per share, or $0.24 annualized.

The dividend will be payable on September 21, 2018, to stockholders of record on September 7, 2018, with an ex-dividend date of September 6, 2018.

The annual yield on the dividend is 1.6 percent.

Robert R. Chapman III, President and CEO, commented: “Our financial results, including one of the best quarters for earnings in the Company’s history, reflected the continued revenue contributions throughout the Company. Continuing gains in productivity and efficiency, as seen in higher year-over-year ROAA and ROAE and an improved efficiency ratio, are supporting our goal of generating an accelerating and predictable earnings flow. Managing interest expense while growing our deposit base, and maintaining solid loan quality have also supported earnings growth.

“Commercial lending and banking continued the positive performance of the past several quarters, and our BOTJ Investment Services team and Mortgage Lending group both had record quarters for production. Our expanded team of mortgage lenders, and continuing success in growing our reputation throughout our served markets as a mortgage origination leader led to this positive performance. Contributions from BOTJ Investment Services, gains on sale of originated mortgages, and revenue from commercial treasury services have supported growth of noninterest income.”

For a dividend history and other dividend-related data on Bank of the James (BOTJ) click here.

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