United Bankshares Declares Second Quarter Dividend

Rhea-AI Summary

United Bankshares (NASDAQ: UBSI) announced that its Board of Directors declared a second quarter dividend of $0.37 per share. Shareholders of record as of June 14, 2024, will receive the dividend payout on July 1, 2024. The total payout amounts to approximately $52.7 million across 135.2 million shares. United Bankshares has an impressive record of 50 consecutive years of dividend increases, a feat matched by only one other major banking company in the USA. As of March 31, 2024, United reported consolidated assets of about $30 billion. The company operates more than 225 offices across multiple states in the USA.

Positive

• Dividend of $0.37 per share declared for Q2 2024.
• Total dividend payout of $52.7 million.
• 50 consecutive years of dividend increases.
• Consolidated assets of approximately $30 billion as of March 31, 2024.
• Operates over 225 offices across multiple states.

Negative

• None.

WASHINGTON & CHARLESTON, W. Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”)(NASDAQ: UBSI), today announced that its Board of Directors declared a second quarter dividend of $0.37 per share for shareholders of record as of June 14, 2024.

The dividend payout of approximately $52.7 million on 135.2 million shares is payable July 1, 2024. The year of 2023 represented the 50th 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 March 31, 2024, United had consolidated assets of approximately $30 billion. United is the parent company of United Bank, which comprises more than 225 offices located throughout Washington, D.C., Virginia, West Virginia, Maryland, North Carolina, South Carolina, Ohio, Pennsylvania, and Georgia.

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/20240515102648/en/

W. Mark Tatterson

Chief Financial Officer

(800) 445-1347

Source: United Bankshares, Inc.

FAQ

What dividend did United Bankshares (UBSI) declare for the second quarter of 2024?

United Bankshares declared a second quarter dividend of $0.37 per share.

When is the record date for United Bankshares' (UBSI) second quarter dividend?

The record date for the second quarter dividend is June 14, 2024.

What is the total dividend payout for United Bankshares (UBSI) for Q2 2024?

The total dividend payout for Q2 2024 is approximately $52.7 million.

How many consecutive years has United Bankshares (UBSI) increased its dividend?

United Bankshares has increased its dividend for 50 consecutive years.

What were United Bankshares' (UBSI) consolidated assets as of March 31, 2024?

United Bankshares reported consolidated assets of approximately $30 billion as of March 31, 2024.