OREANDA-NEWS. Pinnacle Bankshares Corporation (the “Company”) (OTCQX:PPBN), the one-bank holding company for First National Bank (the “Bank”), announced today that its Board of Directors declared a cash dividend of $0.09 per share on May 10, 2016, payable June 3, 2016 to shareholders of record as of May 20, 2016. 

The cash dividend is equal to the $0.09 per share paid to shareholders last quarter and marks the fifteenth consecutive quarter that a dividend has been declared.  Pinnacle previously released its first quarter 2016 earnings on April 25, 2016.

“We are pleased to provide a cash dividend to our shareholders for the fifteenth consecutive quarter,” said Aubrey H. Hall, III, President and Chief Executive Officer for both the Company and the Bank.  Mr. Hall further commented, “The Board remains committed to providing a return on investment in the form of a cash dividend, while also building capital to support growth plans intended to increase assets, net income and total returns.”   

Pinnacle Bankshares Corporation is a locally managed community banking organization based in Central Virginia.  The one-bank holding company of First National Bank serves an area consisting primarily of all or portions of the Counties of Campbell, Pittsylvania, Bedford, Amherst and the City of Lynchburg.  The Company has a total of eight branches with two located in the Town of Altavista, where the Bank was founded.  Other branch locations include Village Highway in Rustburg, Wards Road near the Lynchburg Regional Airport, Timberlake Road in Campbell County, South Main Street in the Town of Amherst, Old Forest Road in the City of Lynchburg and Forest Road in Bedford County.  First National Bank is in its 108th year of operation