UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 21, 2009

EASTERN VIRGINIA BANKSHARES, INC.

(Exact name of registrant as specified in its charter)

VIRGINIA	0-23565	54-1866052
(State or other jurisdiction	(Commission File Number)	(I.R.S. Employer Identification No.)
of incorporation)

330 Hospital Road, Tappahannock, Virginia		22560
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code		(804) 443-8423

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

(17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e4(c ) under the Exchange Act

17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On April 21, 2009, Eastern Virginia Bankshares, Inc. (the “Company”), issued a press release announcing a dividend of $0.05 per share payable May 15, 2009 to holders of record as of May 1, 2009. This is a decrease from the prior quarter’s dividend of $0.16 per share and reflects the Board’s desire to maintain the Company’s strong capital position.

A copy of the press release is being furnished as an exhibit to this report and is incorporated by reference into this Item 8.01.

Important Merger Information

The Company will file with the Securities and Exchange Commission a registration statement on Form S-4 to register the shares of its common stock to be issued in connection with the proposed merger with First Capital Bancorp, Inc., which was announced on April 3, 2009. The registration statement will include a joint proxy statement/prospectus that will be sent to the Company’s shareholders seeking their approval of the proposed merger. The joint proxy statement/prospectus will contain important information about the Company and the merger and about the persons soliciting proxies from shareholders in the merger, including the officers and directors of the Company and their interests in the merger. Additional information about the Company’s directors and executive officers is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2008 and definitive proxy statement for its 2009 annual meeting of shareholders, which were filed with the Securities and Exchange Commission and are available on the Company’s website at www.evb.org and at the Company’s address provided below.

The Company urges its shareholders and other investors to read the registration statement on Form S-4 and the joint proxy statement/prospectus included in the registration statement on Form S-4, and any other relevant documents to be filed with the SEC in connection with the proposed transaction, because they will contain important information about the Company and the proposed transaction.

Shareholders and investors may obtain free copies of the joint proxy statement/prospectus and other documents related to the merger, once they are filed with the SEC, through the SEC’s website at www.sec.gov. Free copies of the proxy statement/prospectus and other relevant documents also may be obtained by directing a request by telephone or mail to the following:

Eastern Virginia Bankshares, Inc.

330 Hospital Road

Tappahannock, VA 22560

Attention: Cheryl Wood

Telephone Number: (804) 443-8422

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit No.

Description

99.1

Press release issued by the Registrant dated April 21, 2009.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: April 21, 2009	EASTERN VIRGINIA BANKSHARES, INC.


	By:	/s/ Ronald L. Blevins
		Ronald L. Blevins
		Chief Financial Officer

EXHIBIT INDEX

Exhibit No.

Description

99.1

Press release issued by the Registrant dated April 21, 2009.

Exhibit 99.1

Eastern Virginia Bankshares

NEWS RELEASE

EASTERN VIRGINIA BANKSHARES, INC.

Eastern Virginia Bankshares	Contact: Ron Blevins
330 Hospital Road	Chief Financial Officer
Tappahannock, VA 22560	Voice:	804/443-8423
	Fax:	804/445-1047
April 21, 2009
For Immediate Release

EASTERN VIRGINIA BANKSHARES, INC. DECLARES CASH DIVIDEND

Tappahannock, Va., April 21, 2009— Eastern Virginia Bankshares, Inc. (NASDAQ: EVBS) The Board of Directors of Eastern Virginia Bankshares, at its April board meeting, declared a regular quarterly dividend of $.05 per share. The dividend, payable May 15, 2009, to holders of the Corporation’s common stock of record as of

May 1, 2009, represents 50% of earnings per share for the first quarter of 2009.

Joe Shearin, President and CEO, stated, “The Board of Eastern Virginia Bankshares deliberated over the reduction of its quarterly dividend, as it is empathetic to the needs of many of our stockholders who depend on their quarterly dividend check. While this was clearly a difficult decision in terms of immediate stockholder impact, from a long-term perspective, it was a painful, but prudent, step to take for the preservation of stockholders’ investment. EVBS continues to be well capitalized. The decision to reduce the dividend ensures that we retain our strong capital position as well as better positions us to face the many challenges related to economic uncertainties.”

Eastern Virginia Bankshares, the parent company for EVB, operates 25 retail branches located in the counties of Caroline, Essex, Gloucester, Hanover, Henrico, King William, Lancaster, Middlesex, New Kent, Northumberland, Southampton, Surry and Sussex and the City of Colonial Heights. The Company’s stock trades on the NASDAQ Global Market System under the symbol EVBS.

Forward-Looking Statements

Certain information contained in this discussion may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are generally identified by phrases such as “the Company expects,” “the Company believes” or words of similar import. Such forward-looking statements involve known and unknown risks including, but not limited to:

•

Interest rate fluctuations and our ability to successfully manage that risk

•

Changes in general economic and business conditions

•

Funding cost in an increasingly competitive environment

•

Risk inherent in making loans such as repayment risks and fluctuating collateral values

•

Risk inherent in the investment portfolio comprising approximately 14.9% of the Company’s total assets

•

Competition within and from outside the banking industry

•

Maintaining capital levels adequate to support our growth

•

The ability to successfully manage our growth or implement our growth strategies if we are unable to identify attractive

markets, locations or opportunities to expand in the future

•

Reliance on our management team, including our ability to attract and retain key personnel

•

New products and services in the banking industry

•

Problems with technology utilized by the Company

•

Changing trends in customer profiles

•

Integration of newly acquired branches or businesses, including maintaining cost controls and asset quality

•

Changes in laws and regulations applicable to the Company

Although the Company believes that its expectations with respect to the forward-looking statements are based upon reliable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements.