50th Consecutive Year of Dividend Increases for United Bankshares, Inc.

WASHINGTON & CHARLESTON, W.V.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”) (NASDAQ: UBSI) today announced that its Board of Directors declared a fourth quarter dividend of $0.37 per share for shareholders of record as of December 8, 2023. Dividends per share of $1.45 for the year 2023 represents an increase over the $1.44 per share paid for the year of 2022. The dividend payout of approximately $49.9 million on 134.9 million shares is payable January 2, 2024. The year 2023 marks the 50th consecutive year of dividend increases to United shareholders.

“Fifty years of dividend growth is a testament to our proven track record as a high performing company with a low risk profile,” said Richard M. Adams, Jr., United’s Chief Executive Officer. “Our disciplined approach has resulted in strong business performance that has allowed us to outperform competitors, provide recognized quality service to our customers, and continuously increase dividends for United shareholders, now for a milestone 50 consecutive years.”

United is the parent company of United Bank which comprises nearly 250 offices in Virginia, Maryland, Washington, D.C., North Carolina, South Carolina, Georgia, Pennsylvania, West Virginia, and Ohio. United’s stock is traded on the NASDAQ Global Select Market under the quotation symbol “UBSI”.

www.ubsi-inc.com

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W. Mark Tatterson

Chief Financial Officer

(800) 445-1347

Source: United Bankshares, Inc.