United Bankshares Declares Third Quarter Dividend

Rhea-AI Summary

United Bankshares, Inc. (NASDAQ: UBSI) announced a third quarter dividend of $0.36 per share for shareholders as of September 9, 2022. This $48.5 million payout, based on 134.6 million shares, will be payable on October 3, 2022. The year 2021 marked the 48th consecutive year of dividend increases, a record matched by only one other major US banking company. As of June 30, 2022, United held approximately $28.8 billion in consolidated assets, and operates nearly 250 offices across multiple states.

Positive

• Declared a third quarter dividend of $0.36 per share.
• Payout of approximately $48.5 million reflects financial health.
• 48 consecutive years of dividend increases indicating strong company performance.

Negative

• None.

WASHINGTON & CHARLESTON, W.Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (“United”)(NASDAQ: UBSI), today announced that its Board of Directors declared a third quarter dividend of $0.36 per share for shareholders of record as of September 9, 2022.

The dividend payout of approximately $48.5 million on 134.6 million shares is payable October 3, 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 June 30, 2022, United had consolidated assets of approximately $28.8 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/20220829005653/en/

W. Mark Tatterson

Chief Financial Officer

(800) 445-1347

Source: United Bankshares, Inc.

FAQ

What is the dividend amount declared by UBSI for the third quarter of 2022?

United Bankshares, Inc. declared a dividend of $0.36 per share for the third quarter of 2022.

When will the dividend be paid to shareholders?

The dividend will be payable on October 3, 2022.

What record has UBSI achieved with its dividends?

United Bankshares has achieved 48 consecutive years of dividend increases.

What are the consolidated assets of UBSI as of June 30, 2022?

As of June 30, 2022, United Bankshares had approximately $28.8 billion in consolidated assets.