United Bankshares Declares First Quarter Dividend

Rhea-AI Summary

United Bankshares, Inc. (NASDAQ: UBSI) has declared a first quarter 2021 dividend of $0.35 per share, totaling approximately $45.2 million for shareholders of record as of March 12, 2021. This dividend will be payable on April 1, 2021. With this announcement, United Bankshares continues its impressive track record, marking the 47th consecutive year of dividend increases. The company reported consolidated assets of around $26.2 billion as of December 31, 2020, and operates the largest community bank in the D.C. Metro region with 224 offices across multiple states.

Positive

• Dividend declared at $0.35 per share, reflecting continued shareholder returns.
• 47 consecutive years of dividend increases, showcasing strong financial stability.
• Consolidated assets of approximately $26.2 billion as of December 31, 2020, indicating robust asset management.

Negative

• None.

United Bankshares, Inc. (NASDAQ: UBSI) today announced that its Board of Directors declared a first quarter 2021 dividend of $0.35 per share for shareholders of record as of March 12, 2021.

The dividend payout of approximately $45.2 million on 129.0 million shares is payable April 1, 2021. The year of 2020 represented the 47th 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, 2020, United had consolidated assets of approximately $26.2 billion. United is the parent company of United Bank, the largest community bank headquartered in the D.C. Metro region. United Bank has 224 offices in West Virginia, Virginia, Ohio, Pennsylvania, Maryland, North Carolina, South Carolina, Georgia, and the nation’s capital. 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/20210222005861/en/

FAQ

What is the dividend amount declared by UBSI for Q1 2021?

United Bankshares declared a dividend of $0.35 per share for Q1 2021.

When is the dividend payment date for UBSI?

The dividend will be payable on April 1, 2021.

How long has UBSI been increasing dividends?

United Bankshares has increased its dividend for 47 consecutive years.

What are the total assets of UBSI as of December 31, 2020?

As of December 31, 2020, United Bankshares reported consolidated assets of approximately $26.2 billion.