Chesapeake Financial Shares, Inc., parent company of Chesapeake Bank and Chesapeake Investment Group, announced it has been recognized by SNL Financial in a recent report as one of only 20 banks in the United States—and only two in Virginia—to increase dividends by at least 2 percent per year and at least a cumulative 30 percent over the past five years.
A release said Chesapeake recorded a dividend yield of 3.09 percent with a dividend growth of 13.33 percent in 2013 and a cumulative growth of 51.11 percent from 2008-2013. The only other Virginia bank to join CFS on the list is Blue Ridge Bankshares of Luray, parent of Blue Ridge Bank.
Based in Kilmarnock, Chesapeake Bank has local offices at Gloucester, Hayes and Mathews.
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