National Bankshares, Inc. Declares
BLACKSBURG, VA, MAY 11, 2016:
The Board of Directors of National Bankshares, Inc. (NASDAQ Capital
Market: NKSH) today approved payment on June 1, 2016 of a semi-annual
dividend of $0.55 per share to all stockholders of record as of
May 23, 2016. This dividend payment compares to $0.53 per share
paid to stockholders on June 2, 2015. James G. Rakes, Chairman,
President & CEO said, "We are pleased to provide our stockholders
with this cash dividend and thank them for their continued investment
in our Company."
In other business, the Board renewed its authorization
of a stock repurchase plan under which management is authorized
to purchase up to 100,000 shares of National Bankshares, Inc.'s
common stock in the open market. The authorization extends from
June 1, 2016 to May 31, 2017. The Company's current stock repurchase
plan expires on May 31, 2016. The Company's management has not yet
determined how many shares, if any, might be purchased under the
continued stock repurchase plan.
National Bankshares, Inc., headquartered in Blacksburg,
Virginia, is the parent company of The National Bank of Blacksburg,
which does business as National Bank, and of National Bankshares
Financial Services, Inc. National Bank is a community bank operating
from 26 full service offices and one loan production office throughout
Southwest Virginia. National Bankshares Financial Services, Inc.
is an investment and insurance subsidiary in the same trade area.
The Company's stock is traded on the NASDAQ Capital Market under
the symbol "NKSH."
statements in this press release may be "forward-looking statements."
Forward-looking statements are statements that include projections,
predictions, expectations or beliefs about future events or results
that are not statements of historical fact and that involve significant
risks and uncertainties. Although the Company believes that its
expectations with regard to forward-looking statements are based
upon reasonable assumptions within the bounds of its existing knowledge
of its business and operations, there can be no assurance that actual
Company results will not differ materially from any future results
implied by the forward-looking statements. Actual results may be
materially different from past or anticipated results because of
many factors, some of which may include changes in economic conditions,
the interest rate environment, legislative and regulatory requirements,
new products, competition, changes in the stock and bond markets
and technology. The Company does not update any forward-looking
statements that it may make.