FIRST UNITED CORPORATION ANNOUNCES FIRST QUARTER 2025 DIVIDEND

Rhea-AI Summary

First United (NASDAQ: FUNC) has announced its first quarter 2025 dividend. The company's Board of Directors has declared a cash dividend of $0.22 per share, which will be paid on February 3, 2025. Shareholders who hold FUNC common stock as of the close of business on January 17, 2025, will be eligible to receive this dividend payment.

Positive

• Maintains consistent dividend payment of $0.22 per share

Negative

• None.

Insights

Financial Analyst

The quarterly dividend announcement of $0.22 per share maintains FUNC's consistent dividend policy, representing an annualized yield of approximately 4.2% based on current share prices. This continuation of the dividend payout signals management's confidence in the bank's financial stability and cash flow generation capabilities. For a regional bank with a market cap of $221.5 million, maintaining this dividend level demonstrates strong fundamental performance and commitment to shareholder returns. The timing aligns with typical quarterly distribution patterns, providing predictable income for investors while maintaining capital adequacy ratios required by regulators.

OAKLAND, Md., Nov. 20, 2024 /PRNewswire/ -- First United Corporation (NASDAQ: FUNC) announces that its Board of Directors declared a cash dividend of $.22 per share that will be payable on February 3, 2025, to holders of record of the Corporation's common stock as of the close of business on January 17, 2025. 

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 First United 's dividend amount for Q1 2025?

First United (FUNC) declared a cash dividend of $0.22 per share for Q1 2025.

When is First United 's Q1 2025 dividend payable?

The Q1 2025 dividend will be payable on February 3, 2025.

What is the record date for First United 's Q1 2025 dividend?

The record date for FUNC's Q1 2025 dividend is January 17, 2025, at the close of business.