Bank of the James Declares 10% Stock Dividend
May 20 2021 - 12:00PM
At its Annual Meeting of Shareholders held on May 18, 2021, Bank of
the James Financial Group, Inc. (the “Company”) (NASDAQ:BOTJ),
the parent company of Bank of the James, a full-service commercial
and retail bank serving Region 2000 (the greater Lynchburg MSA),
and the Blacksburg, Charlottesville, Harrisonburg, Lexington, and
Roanoke, Virginia markets announced that the Board of Directors of
the Company declared a 10% stock dividend to be paid on or about
July 9, 2021 to shareholders of record as of the close of business
on June 25, 2021. As an example, each shareholder will receive one
additional share of stock for every ten shares owned on the record
date of June 25, 2021. Cash will be paid in lieu of fractional
shares based on the closing price of the common stock on the record
date.
Robert R. Chapman III, President and CEO, commented: “We are
proud of the hard work of our entire team during the past difficult
and uncertain year. Their hard work and dedication helped us
achieve strong results. We are grateful that our strong performance
enabled us to not only declare a quarterly cash dividend, but to
further reward our shareholders with this 10% stock dividend.”
About the Company
Bank of the James, a wholly owned subsidiary of Bank of the
James Financial Group, Inc. opened for business in July 1999 and is
headquartered in Lynchburg, Virginia. The bank currently services
customers in Virginia from offices located in Altavista, Amherst,
Appomattox, Bedford, Blacksburg, Charlottesville, Forest,
Harrisonburg, Lexington, Lynchburg, Madison Heights, Roanoke, and
Rustburg. The bank offers full investment and insurance services
through its BOTJ Investment Services division and BOTJ Insurance,
Inc. subsidiary. The bank provides mortgage loan origination
through Bank of the James Mortgage, a division of Bank of the
James. Bank of the James Financial Group, Inc. common stock is
listed under the symbol “BOTJ” on the NASDAQ Stock Market, LLC.
Additional information on the Company is available at
www.bankofthejames.bank.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains statements that constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. The words "believe,"
"estimate," "expect," "intend," "anticipate," "plan" and similar
expressions and variations thereof identify certain of such
forward-looking statements which speak only as of the dates on
which they were made. Bank of the James Financial Group, Inc. (the
"Company") undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise. Readers are cautioned
that any such forward-looking statements are not guarantees of
future performance and involve risks and uncertainties, and that
actual results may differ materially from those indicated in the
forward-looking statements as a result of various factors. Such
factors include, but are not limited to, competition, general
economic conditions, potential changes in interest rates, the
effect of the COVID-19 pandemic, and changes in the value of real
estate securing loans made by Bank of the James (the "Bank"), a
subsidiary of the Company. Additional information concerning
factors that could cause actual results to materially differ from
those in the forward-looking statements is contained in the
Company's filings with the Securities and Exchange Commission and
previously filed by the Bank (as predecessor of the Company) with
the Federal Reserve Board.
CONTACT: J. Todd Scruggs, Executive Vice President and Chief
Financial Officer (434) 846-2000.tscruggs@bankofthejames.com
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