Access National Corp. (ANCX) Raises Quarterly Dividend 6.3% to $0.17; 2.8% Yield

Access National Corp. (NASDAQ: ANCX) declared a quarterly dividend of $0.17 per share, or $0.68 annualized. This is a 6.3% increase from the prior dividend of $0.16.

The dividend will be payable on November 23, 2018, to stockholders of record on November 6, 2018, with an ex-dividend date of November 5, 2018.

The annual yield on the dividend is 2.8 percent.

According to CEO Michael Clarke, “Third quarter 2018 reflects strong performance against our stated strategic growth and profitability measures as customer deposits and loans exceeded a linked quarter growth rate in excess of $200 million per annum. We experienced strong increases in nominal earnings during the period and exceeded our strategic profitability measures with Return on Tangible Common Average Equity (ROTCAE) of 15.20% compared to the target of 13.25%, and Return on Average Assets of 1.30% compared to the target of 1.25%.” Mr. Clarke continued, “The announced merger with Union Bankshares Corporation (“Union”) will enable us to further accelerate growth and opportunity in our markets. We are excited about being an important part of the Union team and the combined positioning as Virginia’s regional bank.”

For a dividend history and other dividend-related data on Access National Corp. (ANCX) click here.

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