SmartFinancial (SMBK) said late Friday its board maintained the quarterly cash dividend of $0.08 per share. The dividend will be payable on March 2 to shareholders of record as of Feb. 13.

The company's board also authorized a stock buyback plan of up to a total amount of $10 million of its common shares, SmartFinancial said, adding that the new plan will be effective March 1 and will expire in February next year.

The new repurchase plan will replace the prior buyback program, the company said.