United Bankshares Declares First Quarter Dividend

Rhea-AI Summary

United Bankshares, Inc. (UBSI) has declared a first quarter 2022 dividend of $0.36 per share, benefiting shareholders of record as of March 11, 2022. This dividend payout totals approximately $49.3 million on 136.8 million shares, payable on April 1, 2022. This marks the 48th consecutive year of dividend increases for the company, a rare achievement among major U.S. banking firms. As of December 31, 2021, United had consolidated assets of around $29.3 billion.

Positive

• Dividend increase of $0.36 per share, payable April 1, 2022.
• 48 consecutive years of dividend increases, demonstrating stability and growth.

Negative

• None.

WASHINGTON & CHARLESTON, W. Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (NASDAQ: UBSI) today announced that its Board of Directors declared a first quarter 2022 dividend of $0.36 per share for shareholders of record as of March 11, 2022.

The dividend payout of approximately $49.3 million on 136.8 million shares is payable April 1, 2022. The year of 2021 represented the 48th 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, 2021, United had consolidated assets of approximately $29.3 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/20220228006062/en/

W. Mark Tatterson

Chief Financial Officer

(800) 445-1347

Source: United Bankshares, Inc.

FAQ

What is the dividend amount declared by UBSI for Q1 2022?

The dividend amount declared by UBSI for Q1 2022 is $0.36 per share.

When is the dividend for UBSI payable?

The dividend for UBSI is payable on April 1, 2022.

What is the significance of UBSI's 48 consecutive years of dividend increases?

It highlights UBSI's commitment to returning value to shareholders and indicates strong financial health.

What was UBSI's asset total as of December 31, 2021?

As of December 31, 2021, UBSI had consolidated assets of approximately $29.3 billion.