Burke & Herbert Bank Declares Quarterly Dividend
Alexandria, VA, October 17 – Burke & Herbert Bank announced that at its meeting on October 16, 2014, the Bank's Board of Directors declared a dividend of $20.00 per share payable on December 1, 2014 to shareholders of record as of the close of business on November 14, 2014. The quarterly dividend just announced represents a $1.00 per share increase over the amount paid last quarter. Dividends per share for the year total $74.00.
"Our dividend announcement today reflects the Bank's continued solid performance and our extraordinary capital positon," noted E. Hunt Burke, the Bank's Chairman & Chief Executive Officer. "We are pleased to be able to deliver strong value for our shareholders as we continue our work to make Burke & Herbert Bank the Bank of Choice for consumers and businesses throughout Northern Virginia."
Burke & Herbert Bank posted net income of $8.6 million for the third quarter of 2014, bringing year-to-date earnings through September 30, 2014 to $24.3 million.
Burke & Herbert Bank, established in 1852, is the oldest bank in the Commonwealth of Virginia and the oldest continuously operating bank in the Washington, D.C. area. The Bank offers a full range of personal and business banking products along with investment accounts, trust products and wealth management services. Burke & Herbert Bank is headquartered in Alexandria and operates 25 branches in Northern Virginia.
Trust and wealth management products and services are not deposits, are not insured by the FDIC or any other government agency, are not guaranteed by the Bank and may lose value.