Pioneer Bankshares, Inc. Declares 3rd Quarter Dividend

STANLEY, Va., Aug. 21, 2017 /PRNewswire/ -- The Board of Directors of Pioneer Bankshares, Inc. (OTC Bulletin Board: PNBI) declared a 3rd quarter dividend at its August 10, 2017 meeting.   The dividend amount declared will be paid at $0.20 per share for shareholders of record as of September 14, 2017 with the payable date scheduled for September 29, 2017. 

This dividend payment is the same as the previous quarter and represents a $0.01 increase when compared to the 3rd quarter payout amount for 2016.  This dividend payment brings the year-to-date total payout to shareholders to $0.60 per share, as compared to $0.57 for the same period in 2016, which is an increase of 5.26%.  The dividend also represents an annualized return on investment to shareholders of 3.12% based on the current market value of the Company's stock, as of the date of this release.

Pioneer Bankshares, Inc. is a one bank holding company located in Virginia.   The corporate office and main branch are located in Stanley, Virginia, with other offices located in Shenandoah, Luray, Harrisonburg, Stanardsville, Ruckersville, and Charlottesville, Virginia.  The Bank also operates a small consumer loan finance company known as Valley Finance Services, a Division of Pioneer Bank, which specializes in consumer and auto lending.

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SOURCE Pioneer Bankshares, Inc.