NORFOLK, Va., March 17 /PRNewswire-FirstCall/ -- On March 15, 2006, shareholders of Hampton Roads Bankshares, Inc. (BULLETIN BOARD: HMPR) , parent company of Bank of Hampton Roads, demonstrated their overwhelming desire for additional stock ownership by reinvesting the majority of a $0.20 per share semi-annual dividend paid to shareholders of record as of February 15, 2006. The dividend totaled $1,672,104, an increase of 15% over the total dividend paid in September 2005.
Eighty percent (80%) of shareholders are enrolled in the Company's Dividend Reinvestment Plan. As a result, $1,012,441 of the total dividend payment was reinvested to purchase additional stock for shareholders. The Company has a long history of widespread shareholder loyalty. The Dividend Reinvestment Plan was adopted in 1992, the year the Company paid its first dividend. Since 1992, the Company has paid eighteen consecutive dividends totaling $19.4 million, and shareholders have opted to reinvest $13.1 million, or 68% of all dividends paid, into additional shares of stock.
Hampton Roads Bankshares is traded on the Over the Counter Bulletin Board under the symbol HMPR. Bank of Hampton Roads has been in business since 1987 and operates 17 offices throughout the cities of Norfolk, Chesapeake, Virginia Beach and Suffolk. Additional information about the Company and its subsidiaries can be found on the Web at http://www.bankofhamptonroads.com/.
This press release contains certain forward-looking statements, including certain plans, expectations, goals and projections, which are subject to numerous assumptions, risks and uncertainties. Actual results could differ materially from those contained in or implied by such statements for a variety of factors including: changes in economic conditions; movements in interest rates; competitive pressures on product pricing and services; success and timing of business strategies; the nature and extent of governmental actions and reforms; and rapidly changing technology evolving banking industry standards.
