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

Rhea-AI Summary

United Community Banks, Inc. (NASDAQ: UCBI) announced a quarterly cash dividend of $0.21 per share, payable on April 5, 2022, to shareholders of record by March 15, 2022. Additionally, a dividend of $429.6875 per share on the 6.875% Non-Cumulative Perpetual Preferred Stock, Series I (NASDAQ: UCBIO) will be paid on March 15, 2022, to shareholders of record as of February 28, 2022. This announcement reflects United's commitment to return value to its shareholders while continuing to grow its asset base, following its recent acquisition of Reliant Bancorp.

Positive

• Quarterly cash dividend of $0.21 per share reflects confidence in financial health.
• Acquisition of Reliant Bancorp added $3 billion in assets and 25 offices.

Negative

• None.

GREENVILLE, S.C., Feb. 17, 2022 (GLOBE NEWSWIRE) -- United Community Banks, Inc. (NASDAQ: UCBI) (“United”), reported that its Board of Directors approved a quarterly cash dividend of $0.21 per share on the Company’s common stock. The dividend is payable April 5, 2022 to shareholders of record as of March 15, 2022.

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, 2022 to shareholders of record on February 28, 2022.

About United Community Banks, Inc.
United Community Banks, Inc. (NASDAQGS: UCBI) provides a full range of banking, wealth management and mortgage services for relationship-oriented consumers and business owners. The company, known as “The Bank That SERVICE Built,” has been recognized nationally for delivering award-winning service. At December 31, 2021, United had $20.9 billion in assets and 171 offices in Florida, Georgia, North Carolina, South Carolina and Tennessee along with a national SBA lending franchise and a national equipment lending subsidiary. Through its January 1, 2022 acquisition of Reliant Bancorp and its wholly-owned banking subsidiary, Reliant Bank, United added $3 billion in assets and 25 banking offices in high growth markets in Tennessee. In 2021, J.D. Power ranked United highest in customer satisfaction with retail banking in the Southeast, marking seven out of the last eight years United earned the coveted award. United was also named one of the "Best Banks to Work For" by American Banker in 2021 for the fifth consecutive year 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 2021 list of the 100 Best Banks in America for the eighth consecutive year. United has been recognized by Greenwich Associates for the fourth consecutive year for its strength in small business lending and received five Greenwich Excellence Awards in 2020 for excellence in Small Business Banking and nine Greenwich Excellence Awards in 2021. 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

What is the dividend amount announced by UCBI?

UCBI announced a quarterly cash dividend of $0.21 per share.

When is the UCBI dividend payable?

The dividend is payable on April 5, 2022.

What is the record date for the UCBI common stock dividend?

The record date for the dividend is March 15, 2022.

What is the dividend amount for the preferred stock (UCBIO)?

The preferred stock dividend is $429.6875 per share.

When is the UCBIO dividend payable?

The UCBIO dividend is payable on March 15, 2022.

What is the record date for the UCBIO preferred stock dividend?

The record date for the UCBIO dividend is February 28, 2022.