FIRST UNITED CORPORATION ANNOUNCES THIRD QUARTER 2024 DIVIDEND

Rhea-AI Summary

First United (NASDAQ: FUNC) announced that its Board of Directors has declared a cash dividend of $0.20 per share for the third quarter of 2024.

This dividend will be payable on August 1, 2024, to shareholders of record as of July 18, 2024.

Positive

• Board of Directors declared a cash dividend of $0.20 per share.
• Dividend payable on August 1, 2024.
• Record date for dividend is July 18, 2024.

Negative

• None.

Insights

Financial Analyst

The announcement of a cash dividend of $.20 per share by First United Corporation is indicative of the company’s current profitability and confidence in its cash flow. Dividends represent a return of profit to shareholders, which is often seen as a signal of a company's strong financial health. For retail investors, the dividend yield, which is the annual dividend payment divided by the stock price, should be considered. It provides an insight into how much return they might expect.

The timing of the dividend payment and the record date are also important. The record date of July 18, 2024, signifies that only shareholders who hold the stock by this date will be eligible for the dividend. Investors looking to capitalize on this dividend need to purchase shares before this date. The payout on August 1, 2024, ensures that the returns will be relatively quick for those eligible.

However, investors should also look beyond dividends to other financial metrics and company performance indicators. While dividends are positive, they are just one aspect of a company’s overall health. Understanding the earnings stability, future growth prospects and the broader economic environment will provide a more comprehensive picture of the investment's potential.

Overall, the dividend announcement is a positive sign, but should be weighed alongside other considerations.

OAKLAND, Md., June 20, 2024 /PRNewswire/ -- First United Corporation (NASDAQ: FUNC) announces that its Board of Directors declared a cash dividend of $.20 per share that will be payable on August 1, 2024, to holders of record of the Corporation's common stock as of July 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 dividend amount announced by First United for Q3 2024?

First United announced a dividend of $0.20 per share for the third quarter of 2024.

When will First United pay the Q3 2024 dividend?

The Q3 2024 dividend will be payable on August 1, 2024.

What is the record date for First United 's Q3 2024 dividend?

The record date for the Q3 2024 dividend is July 18, 2024.

What is the stock symbol for First United ?

The stock symbol for First United is FUNC.