FIRST UNITED CORPORATION ANNOUNCES FOURTH QUARTER 2024 DIVIDEND

Rhea-AI Summary

First United (NASDAQ: FUNC) has announced that its Board of Directors has declared a cash dividend of $0.22 per share. This dividend will be payable on November 1, 2024, to shareholders who are holders of record of the 's common stock as of October 18, 2024. The announcement was made on September 25, 2024, from Oakland, Maryland.

Positive

• Declared a cash dividend of $0.22 per share

Negative

• None.

Insights

Financial Analyst

The announcement of a $.22 per share quarterly dividend by First United is a positive signal for investors, maintaining a consistent payout. For a company with a market cap of $193,644,750, this dividend reflects a commitment to shareholder returns. Assuming this quarterly rate continues, the annual dividend would be $.88 per share.

While dividend announcements are generally positive, it's important to consider the broader financial context. Investors should examine FUNC's dividend payout ratio, earnings growth and overall financial health to assess the sustainability of these payments. The ex-dividend date, typically two business days before the record date of October 18, is when the stock will trade without the right to this dividend.

This consistent dividend policy may attract income-focused investors, potentially providing some support for the stock price. However, the impact on stock performance will also depend on other factors such as earnings reports, industry trends and broader market conditions.

OAKLAND, Md., Sept. 25, 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 November 1, 2024, to holders of record of the Corporation's common stock as of October 18, 2024. 

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 amount of First United 's (FUNC) fourth quarter 2024 dividend?

First United (FUNC) has declared a cash dividend of $0.22 per share for the fourth quarter of 2024.

When will First United (FUNC) pay its fourth quarter 2024 dividend?

First United (FUNC) will pay its fourth quarter 2024 dividend on November 1, 2024.

What is the record date for First United 's (FUNC) fourth quarter 2024 dividend?

The record date for First United 's (FUNC) fourth quarter 2024 dividend is October 18, 2024.

When did First United (FUNC) announce its fourth quarter 2024 dividend?

First United (FUNC) announced its fourth quarter 2024 dividend on September 25, 2024.