In section Market Quotes

First Community Bankshares Boosts Dividend Amid Profit Surge

Shareholders of First Community Bankshares will receive a 33-cent quarterly payout, a 6.5% bump from the previous 31-cent dividend, as the banking firm reports a sharp rise in second-quarter profitability. The payout, yielding roughly 3% based on recent market performance, arrives as the company nearly doubles its year-over-year earnings.

First Community Bankshares Boosts Dividend Amid Profit Surge

The dividend is scheduled for distribution on August 21 to investors on record as of August 7. This increase brings the annualized payout to $1.32 per share, calculated against a Tuesday closing price of $44.63.

The distribution follows a robust financial performance for the quarter, with the bank posting a profit of $22.51 million, or $1.19 per share. These figures represent a significant improvement over the same period last year, when the company recorded $12.25 million in profit, or 63 cents per share.

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