National Bankshares Inc.'s board renewed authorization for the repurchase of up to 100,000 common shares of the Blacksburg, Va.-based company in the open market.

The authorization extends from June 1, 2018, to May 31, 2019. The company's current stock buyback plan expires May 31.

The board also declared a semiannual dividend of 58 cents per share, payable June 1 to stockholders of record as of May 21.

The company paid a semiannual dividend of 61 cents on Dec. 1, 2017, and 56 cents on June 1, 2017.