MCKENNEY, Va., Dec. 10, 2008 (GLOBE NEWSWIRE) -- Bank of McKenney (Nasdaq:BOMK) today announced that on December 9, the Board of Directors of Bank of McKenney declared a dividend of $0.27 per share on Bank of McKenney common stock for shareholders of record at the close of normal trading on December 31, 2008 and payable on January 16, 2009. The $0.27 per share dividend matches that paid in January of 2008.
Richard M. Liles, President & Chief Executive Officer, stated, "The year 2008 is one all in the financial sector will not soon forget. While we are not experiencing record-breaking results here at Bank of McKenney this year, our core strategy has always been to focus on stability. This tactic might not produce the highest of yields; however, it helps prevent devastating choices that mandate government support in order to survive. Our 2008 core growth has been good, our capital is strong and our earnings are solid. Our Board feels quite comfortable with a dividend equivalent to those declared in 2007."
Bank of McKenney is a full-service community bank headquartered in McKenney, Virginia with six branches serving Southeastern Virginia and assets totaling $165 million.