TOANO, Va. - C&F Financial Corporation (NASDAQ:CFFI), known for its banking and financial services, has declared a regular cash dividend of 44 cents per share. This dividend is scheduled to be paid on April 1, 2024, to shareholders who are on record as of March 15, 2024.
The corporation's board of directors regularly assesses the dividend payout, considering various factors such as economic conditions, capital requirements, and anticipated earnings. This decision is part of the board's ongoing commitment to providing value to its shareholders.
C&F Financial operates through multiple subsidiaries. C&F Bank runs 31 banking offices and four commercial loan offices across eastern and central Virginia, alongside full wealth management services via C&F Wealth Management, Inc. Additionally, C&F Mortgage Corporation and C&F Select LLC offer mortgage loan origination services in several states including Virginia, Maryland, North Carolina, and West Virginia.
Furthermore, C&F Finance Company provides loans for automobiles, marine, and recreational vehicles through indirect lending programs in numerous states from Alabama to West Virginia, based out of Henrico, Virginia.
The corporation's financial health and strategies are of interest to shareholders and potential investors, particularly regarding its dividend distributions. The announcement of the dividend is based on a press release statement from C&F Financial Corporation.
InvestingPro Insights
As C&F Financial Corporation (NASDAQ:CFFI) announces its latest dividend, investors may find value in some key financial metrics and insights from InvestingPro. The company has a notable track record with its dividend policy, having raised its dividend for 13 consecutive years and maintaining dividend payments for an impressive 26 years. This consistency underscores C&F Financial's commitment to shareholder returns and reflects a stable financial foundation.
InvestingPro data highlights a market capitalization of $182.2 million USD, a testament to the company's size and market presence. The P/E ratio stands at 7.59, suggesting that the company's shares might be trading at a relatively reasonable valuation compared to its earnings. Additionally, the dividend yield as of the latest data is 3.3%, which could be attractive to income-focused investors.
While C&F Financial has shown profitability over the last twelve months, an InvestingPro Tip points out that the company suffers from weak gross profit margins. This could be an area for potential investors to watch, as it may impact future earnings and, consequently, dividend sustainability. However, the company's ability to consistently raise dividends implies a level of confidence in its financial management and future prospects.
For those looking to delve deeper into C&F Financial's financial health and dividend reliability, there are additional InvestingPro Tips available at Investing.com/pro/CFFI. And for a limited time, use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more insights to inform your investment decisions.
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