Farmers Bankshares Inc. the Windsor-based holding company for Farmers Bank, announced that the Board of Directors has declared a quarterly dividend of 8 cents per share to holders of common stock of the company.

On an annualized basis, the dividend is an increase of approximately 14 percent from the dividend paid in June 2016 and increased 81.82 percent over the annualized dividend paid in September 2015.

The record date for stockholders entitled to payment of the dividend will be the close of normal trading on Oct. 3, with payment to occur by Oct. 17.

The common stock of Farmers Bankshares Inc. trades on the NASDAQ market as an Over-the-Counter Bulletin Board stock under the symbol FBVA.