QNB Corp. (OTCBB: QNBC), parent Company of QNB Bank today announced that, due to the continuing public health concerns relating to the coronavirus (COVID-19) pandemic, and to protect the health and well-being of its shareholders, employees, and other stakeholders, the Company's 2020 annual shareholder meeting will now be held virtually. A proxy statement supplement will be filed today with the Securities Exchange Commission with additional information concerning the virtual meeting, which we urge shareholders to read in its entirety.
QNB Corp. (the "Company" or "QNB") (OTC Bulletin Board: QNBC), the parent company of QNB Bank, reported net income for the first quarter of 2020 of $220,000, or $0.06 per share on a diluted basis, compared to net income of $3,379,000, or $0.97 per share on a diluted basis, for the same period in 2019.
The Board of Directors of QNB Corp. (OTC Bulletin Board: QNBC), parent company of QNB Bank, at a regular meeting on February 25, 2020 declared a quarterly cash dividend of $0.34 per share. The amount represents a 3.0% increase from the prior quarter. Based upon the closing price of a share as of close of business February 24, 2020, this represents a yield of 3.8%. The cash dividend is payable on March 27, 2020 to shareholders of record March 13, 2020.