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CENTRAL VIRGINIA BANKSHARES RAISES DIVIDEND AGAIN; 56 CENTS NEW INDICATED ANNUAL RATE

 POWHATAN, Va., Nov. 10 /PRNewswire/ -- Central Virginia Bankshares, Inc. (NASDAQ: CVBK), the holding company for Central Virginia Bank, today announced that its board of directors voted to raise the company's cash dividend by 7.7 percent to 14 cents from 13 cents per common share. The dividend is payable Dec. 15 to stockholders of record Nov. 15.
 Following the increase, the new indicated annual rate is 56 cents. The board's action is the second time the dividend has been increased this year. In August, the dividend was raised to 13 cents from 12 cents. The two dividend rate increases have boosted the payout by 16.7 percent this year.
 This is the sixth consecutive year that the company has raised its dividend. The company has paid cash dividends annually since 1977.
 John B. Larus, chairman, attributed the board's decision to increase the regular quarterly dividend to the continued strong financial performance of the company's subsidiary $100 million community bank.
 -0- 11/10/93
 /CONTACT: R. Larry Lyons, president, of Central Virginia Bankshares, 804-794-6266/
 (CVBK)


CO: Central Virginia Bankshares, Inc.; Central Virginia Bank ST: Virginia IN: FIN SU: DIV

MH-DC -- DC028 -- 2868 11/10/93 15:19 EST
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Publication:PR Newswire
Date:Nov 10, 1993
Words:197
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