FIRST UNITED CORPORATION ANNOUNCES FOURTH QUARTER 2022 DIVIDEND

Rhea-AI Summary

First United Corporation (NASDAQ: FUNC) has declared a cash dividend of $0.15 per share, set to be paid on November 1, 2022. Shareholders on record as of October 18, 2022 will be eligible for this dividend. First United Corporation operates through its subsidiary, First United Bank & Trust, in Maryland, and manages various finance and real estate entities aimed at commercial banking and low-income housing development. The dividend announcement reflects the company’s commitment to returning value to shareholders.

Positive

• Declared a cash dividend of $0.15 per share, enhancing shareholder value.
• Continues commitment to dividend payments indicating strong cash flow.

Negative

• None.

OAKLAND, Md., Sept. 28, 2022 /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 November 1, 2022, to holders of record of the Corporation's common stock as of October 18, 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 declared a cash dividend of $0.15 per share.

When is the dividend payable for FUNC?

The dividend will be payable on November 1, 2022.

When is the record date for the dividend?

The record date for the dividend is October 18, 2022.

Is the dividend from First United Corporation sustainable?

The declaration of a dividend indicates a commitment to returning value to shareholders, but sustainability depends on the company's ongoing financial performance.