Bank of James Announces Quarterly Dividend of $0.10 Per Share By Investing.com

LYNCHBURG, VA – Bank of James Financial Group Inc. (NASDAQ:BOTJ) declared a quarterly dividend of $0.10 per common share. This decision was made at a meeting of the Board of Directors on Tuesday, October 15, 2024. Shareholders entered in the share register at the close of business on November 22, 2024 will receive the dividend on December 6, 2024.

This financial information was filed in a recent 8-K filing with the U.S. Securities and Exchange Commission (SEC). The report did not contain any additional financial statements, pro forma financial information or details of transactions with shell companies, suggesting that the dividend announcement is the focus.

The dividend payout underlines the company’s commitment to providing returns to its shareholders. This is a common practice of Bank of James Financial Group Inc., which operates in the state commercial banking sector under industry classification code 6022.

Bank of James Financial Group Inc., headquartered on Main Street in Lynchburg, Virginia, has been an integral part of the local community for years and offers a variety of banking services. The dividend announcement is a testament to the company’s financial health and its ability to generate sufficient cash flow to share profits with its investors.

The Company’s shares are traded on the NASDAQ Capital Market under the trading symbol BOTJ, with a par value of $2.14 common stock. Shareholders and potential investors can find additional information about the Company’s financials and other investor-related announcements in its SEC filings.

In other recent news, Bank of James Financial Group declared a quarterly dividend of $0.10 per share, scheduled to be paid on September 20, 2024. This is consistent with the company’s regular pattern of dividend payouts and underscores its financial health and commitment to shareholder returns. The company also reported an increase in its quarterly profit, with net income rising to $2.19 million from $1.98 million a year ago, driven primarily by a 15.51% increase in interest income. However, the bank’s net interest margin fell from 3.48% to 3.02% due to prevailing interest rate conditions.

Noninterest income also increased to $3.31 million, led by commercial treasury services and asset management income. Additionally, the bank plans to expand its presence in the Roanoke, Lexington and Charlottesville markets with branches in the second quarter of 2024.

InvestingPro Insights

Bank of James Financial Group Inc.’s recent dividend announcement is consistent with its track record of consistent shareholder returns. According to InvestingPro Tips, the company has increased its dividend for 3 consecutive years and paid dividends for 11 consecutive years. This shows commitment to rewarding shareholders and suggests financial stability.

InvestingPro data shows that BOTJ is trading at a low earnings multiple, which could be attractive to value-oriented investors. The company was also profitable over the last twelve months, supporting its ability to continue paying dividends. However, it is important to note that BOTJ is suffering from weak gross margins, which could impact its future dividend growth potential.

Interestingly, there has been a sharp rise in share price over the last six months, which may reflect market optimism about the company’s prospects. Investors seeking more comprehensive analysis can access additional InvestingPro Tips, with 3 additional tips for BOTJ available on the InvestingPro platform.

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