FIRST UNITED CORPORATION ANNOUNCES FIRST QUARTER 2023 DIVIDEND

Rhea-AI Summary

First United Corporation (NASDAQ: FUNC) has declared a cash dividend of $.18 per share, scheduled for payment on February 1, 2023. This dividend will benefit shareholders who hold the common stock as of January 13, 2023. The corporation operates through its subsidiary, First United Bank & Trust, alongside other finance and real estate entities, focusing on both commercial banking and low-income housing development in Maryland.

Positive

• Cash dividend of $.18 per share indicating company confidence.

Negative

• None.

OAKLAND, Md., Dec. 1, 2022 /PRNewswire/ -- First United Corporation (NASDAQ: FUNC) announces that its Board of Directors declared a cash dividend of $.18 per share that will be payable on February 1, 2023, to holders of record of the Corporation's common stock as of January 13, 2023.

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 for First United Corporation?

The declared dividend amount is $.18 per share.

When is the dividend payable for FUNC?

The dividend will be payable on February 1, 2023.

What is the record date for the dividend of FUNC?

The record date for the dividend is January 13, 2023.

How frequently does First United Corporation pay dividends?

First United Corporation typically announces quarterly dividends.