Farmers Bankshares Inc., the Windsor-based holding company for Farmers Bank, has declared a quarterly dividend of 10 cents per share to holders of common stock of the company.

On an annualized basis, the dividend is an increase of approximately 25 percent from the dividend paid in September 2016 and increased 100 percent over the annualized dividend paid in December 2015.

The record date for stockholders entitled to payment of the dividend will be the close of normal trading on Jan. 4, with payment to occur by Jan. 16.