United Community Banks, Inc. Announces Quarterly Cash Dividend On Preferred Stock And Quarterly Cash Dividend Increase On Common Stock

Rhea-AI Summary

United Community Banks, Inc. (UCBI) announced a quarterly cash dividend increase to $0.19 per share, representing a 5.6% rise, payable on April 5, 2021. Shareholders of record by March 15, 2021 will receive this dividend. Additionally, a dividend of $429.6875 per share on the 6.875% Non-Cumulative Preferred Stock, Series I, is set for March 15, 2021, with record shareholders as of February 28, 2021. The bank, with $17.8 billion in assets, is recognized for its customer service excellence.

Positive

• Quarterly cash dividend increased by 5.6% to $0.19 per share.
• Strong recognition in customer service, contributing to shareholder confidence.

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• None.

GREENVILLE, S.C., Feb. 18, 2021 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NASDAQ: UCBI) (“United”), reported that its Board of Directors approved an increase of its regular quarterly cash dividend to $0.19 per share on the Company’s common stock. The dividend is payable April 5, 2021 to shareholders of record as of March 15, 2021. This represents a 5.6% increase over the quarterly dividend in the last five quarters.

The Board of Directors also approved a quarterly cash dividend of $429.6875 per share (equivalent to $0.4296875 per depositary share or 1/1000th interest per share) on the Company’s 6.875% Non-Cumulative Perpetual Preferred Stock, Series I (NASDAQ: UCBIO). The dividend is payable March 15, 2021 to shareholders of record on February 28, 2021.

About United Community Banks, Inc.
United Community Banks, Inc. (NASDAQ: UCBI) (United) is a bank holding company headquartered in Blairsville, Georgia, with executive offices in Greenville, South Carolina. United is one of the largest full-service financial institutions in the Southeast, with $17.8 billion in assets, and 160 offices in Florida, Georgia, North Carolina, South Carolina and Tennessee. United Community Bank, United’s wholly-owned bank subsidiary, specializes in personalized community banking services for individuals, small businesses and companies throughout its geographic footprint, including Florida under the brand Seaside Bank and Trust. Services include a full range of consumer and commercial banking products, including mortgage, advisory, treasury management, and wealth management. Respected national research firms consistently recognize United for outstanding customer service. In 2020, J.D. Power ranked United highest in customer satisfaction with retail banking in the Southeast, marking six out of the last seven years United earned the coveted award. United was also named "Best Banks to Work For" by American Banker in 2020 for the fourth year in a row based on employee satisfaction. Forbes included United in its inaugural list of the World’s Best Banks in 2019 and again in 2020. Forbes also recognized United on its 2020 list of the 100 Best Banks in America for the seventh consecutive year. United also received five Greenwich Excellence Awards in 2019 for excellence in Small Business Banking and Middle Market Banking, including a national award for Overall Satisfaction in Small Business Banking. Additional information about United can be found at www.ucbi.com.

For more information:
Jefferson Harralson
Chief Financial Officer
(864) 240-6208
Jefferson_Harralson@ucbi.com 

FAQ

When will UCBI's dividend be paid?

United Community Banks, Inc. (UCBI) will pay its quarterly cash dividend on April 5, 2021.

What is the new dividend amount for UCBI?

The new quarterly cash dividend for UCBI is $0.19 per share.

Who is eligible for the dividend payment from UCBI?

Shareholders of record as of March 15, 2021, are eligible for the dividend payment.

What is the dividend for UCBI's preferred stock?

The dividend for UCBI's 6.875% Non-Cumulative Preferred Stock, Series I, is $429.6875 per share.

When is the dividend for UCBI's preferred stock payable?

The dividend for UCBI's preferred stock is payable on March 15, 2021.