First United Corporation Announces First Quarter 2022 Dividend

Rhea-AI Summary

First United Corporation (NASDAQ: FUNC) has announced a cash dividend of $.15 per share, set to be paid on February 1, 2022. Shareholders of record as of January 14, 2022 will be eligible for this dividend. The company operates as a holding entity for First United Bank & Trust and its various subsidiaries, focusing on both commercial banking and affordable housing development in Maryland.

Positive

• Declaration of a cash dividend of $.15 per share, indicating financial health and shareholder return.
• Scheduled dividend payment reflects company confidence in maintaining profitability.

Negative

• None.

OAKLAND, Md., Nov. 17, 2021 /PRNewswire/ -- First United Corporation (NASDAQ: FUNC) announces that its Board of Directors declared a cash dividend of $.15 per share that will be payable on February 1, 2022 to holders of record of the Corporation's common stock as of January 14, 2022. 

About First United Corporation

First United Corporation is the parent company of First United Bank & Trust, a Maryland trust company with commercial banking powers.  The Bank's wholly-owned subsidiaries include OakFirst Loan Center, Inc. and OakFirst Loan Center, LLC, both of which are finance companies, and First OREO Trust and FUBT OREO I, LLC, both of which were formed for the purposes of holding, servicing and disposing of the real estate that the Bank acquires through foreclosure or by deed in lieu of foreclosure.  The Bank also owns 99.9% of the limited partnership interests in Liberty Mews Limited Partnership, which was formed for the purpose of acquiring, developing and operating low-income housing units in Garrett County, Maryland and a 99.9% non-voting membership interest in MCC FUBT Fund, LC, an Ohio limited liability company formed for the purpose of acquiring, developing and operating low-income housing units in Allegany County, Maryland.  The Corporation's website is www.mybank.com. 

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SOURCE First United Corporation

FAQ

What is the dividend amount declared by First United Corporation?

First United Corporation has declared a cash dividend of $.15 per share.

When will the dividend be paid to shareholders of First United Corporation?

The dividend will be payable on February 1, 2022.

What is the record date for the dividend payment by First United Corporation?

The record date for the dividend payment is January 14, 2022.

How often does First United Corporation pay dividends?

The frequency of dividends is typically determined by the Board of Directors, with declarations made quarterly.