United Bankshares Declares First Quarter Dividend

Rhea-AI Summary

United Bankshares, Inc. (NASDAQ: UBSI) has declared a first quarter 2023 dividend of $0.36 per share, amounting to approximately $48.6 million for shareholders of record as of March 10, 2023. This dividend is payable on April 3, 2023. The announcement marks 49 consecutive years of dividend increases, a feat achieved by only one other major U.S. banking company. As of December 31, 2022, United's consolidated assets were approximately $29.5 billion.

Positive

• Dividend declaration of $0.36 per share totaling $48.6 million reflects strong financial performance.
• 49 consecutive years of dividend increases demonstrates consistent shareholder value.

Negative

• None.

WASHINGTON & CHARLESTON, W.Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (NASDAQ: UBSI) today announced that its Board of Directors declared a first quarter 2023 dividend of $0.36 per share for shareholders of record as of March 10, 2023.

The dividend payout of approximately $48.6 million on 134.9 million shares is payable April 3, 2023. The year of 2022 represented the 49th consecutive year of dividend increases for United shareholders. Only one other major banking company in the USA has achieved such a dividend record.

As of December 31, 2022, United had consolidated assets of approximately $29.5 billion. 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20230227005783/en/

W. Mark Tatterson

Chief Financial Officer

(800) 445-1347

Source: United Bankshares, Inc.

FAQ

What is the dividend amount for UBSI in Q1 2023?

The dividend amount for UBSI in Q1 2023 is $0.36 per share.

When will UBSI's dividend be paid?

The dividend will be paid on April 3, 2023.

What is the historical significance of UBSI's dividend payments?

UBSI has achieved 49 consecutive years of dividend increases, a rare accomplishment among U.S. banks.

What are the total dividends declared by UBSI in 2023?

The total dividends declared by UBSI in 2023 amount to approximately $48.6 million.

When is the record date for UBSI's first quarter dividend?

The record date for UBSI's first quarter dividend is March 10, 2023.