United Community Banks, Inc. Announces Quarterly Cash Dividends on Common and Preferred Stock

Rhea-AI Summary

United Community Banks, a leading financial institution, announced on May 16, 2024, a quarterly cash dividend of $0.23 per share for its common stockholders, payable on July 5, 2024, to shareholders recorded by June 15, 2023. Additionally, the board approved a quarterly cash dividend of $429.6875 per share for its 6.875% Non-Cumulative Perpetual Preferred Stock, Series I, corresponding to $0.4296875 per depositary share, payable on June 15, 2024, to shareholders of record on May 31, 2024. United Community Banks operates 205 offices across six southeastern U.S. states and has assets totaling $27.3 billion as of March 31, 2024. The bank has earned numerous accolades, including J.D. Power’s best customer satisfaction award for the Southeast region for the tenth time in 2024.

Positive

• Quarterly cash dividends declared on both common and preferred stock indicate financial stability.
• The dividend for common stock is $0.23 per share, payable on July 5, 2024.
• The preferred stock dividend is $429.6875 per share, showing strong financial health.
• United Community Banks has assets totaling $27.3 billion as of March 31, 2024.
• The bank operates 205 offices across six southeastern U.S. states, indicating a significant presence.
• Received J.D. Power’s best customer satisfaction award for the tenth time in 2024.
• Recognized as the most trusted bank in the Southeast.
• Named one of the “Best Banks to Work For” by American Banker for seven consecutive years.
• Honored with 15 awards in the Greenwich Excellence and Best Brands Awards.

Negative

• The announcement does not include any new significant business developments or expansion plans.
• The timing of dividend payments may not positively affect short-term stock prices.

GREENVILLE, S.C., May 16, 2024 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NASDAQ: UCBI) (“United”), reported that its Board of Directors approved a quarterly cash dividend of $0.23 per share on the Company’s common stock. The dividend is payable July 5, 2024 to shareholders of record as of June 15, 2023.

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 June 15, 2024 to shareholders of record on May 31, 2024.

About United Community Banks, Inc.
United Community Banks, Inc. (NASDAQ: UCBI) is the financial holding company for United Community, a top 100 U.S. financial institution that is committed to improving the financial health and well-being of its customers and the communities it serves. United Community provides a full range of banking, wealth management and mortgage services. As of March 31, 2024, United Community had $27.3 billion in assets, 205 offices across Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee, as well as a national SBA lending franchise and a national equipment lending subsidiary. In 2024, United Community became a 10-time winner of the J.D. Power’s award for the best customer satisfaction among consumer banks in the Southeast region and was recognized as the most trusted bank in the Southeast. In 2023, United was named by American Banker as one of the “Best Banks to Work For” for the seventh consecutive year and was recognized in the Greenwich Excellence and Best Brands Awards, receiving 15 awards that included national honors for overall satisfaction in small business banking and middle market banking. Forbes has also consistently listed United Community as one of the World’s Best Banks and one of America’s Best Banks. Additional information about United can be found at ucbi.com.

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

FAQ

What is the quarterly dividend for United Community Banks (UCBI) common stock?

The quarterly dividend for UCBI common stock is $0.23 per share, payable on July 5, 2024.

When is the record date for United Community Banks (UCBI) common stock dividend?

The record date for the common stock dividend is June 15, 2023.

What is the quarterly dividend for United Community Banks (UCBI) preferred stock?

The quarterly dividend for UCBI's 6.875% Non-Cumulative Perpetual Preferred Stock, Series I, is $429.6875 per share or $0.4296875 per depositary share.

When is the payable date for United Community Banks (UCBI) preferred stock dividend?

The payable date for the preferred stock dividend is June 15, 2024.

What are the assets of United Community Banks (UCBI) as of March 31, 2024?

As of March 31, 2024, United Community Banks (UCBI) has assets totaling $27.3 billion.

How many offices does United Community Banks (UCBI) operate?

United Community Banks operates 205 offices across six southeastern U.S. states.

Has United Community Banks (UCBI) received any recent awards?

Yes, UCBI received J.D. Power’s best customer satisfaction award for the Southeast region for the tenth time in 2024 and was recognized as the most trusted bank in the Southeast.