U & I Financial Corp. Declares Cash Dividend of $0.10 Per Share

Rhea-AI Summary

U & I Financial Corp. (OTCQX: UNIF) announced a cash dividend of $0.10 per share, payable on April 21, 2023, to shareholders on record as of April 7, 2023. Despite challenges within the banking sector, CEO Peter Park emphasized the company's strong position for growth, highlighting robust capital, excellent credit quality, sufficient liquidity, and solid earnings. The decision to maintain the semi-annual dividend reflects confidence in UniBank's financial stability. Established in 2006, UniBank serves various clients across the U.S., operating four branches in Washington and focusing on government-guaranteed loan programs.

Positive

• Cash dividend of $0.10 per share enhances shareholder income.
• Continued semi-annual dividend demonstrates company confidence.
• Strong capital and excellent credit quality indicate future growth potential.

Negative

• Banking industry facing significant turbulence and uncertainty.

LYNNWOOD, WA / ACCESSWIRE / March 28, 2023 / U & I Financial Corp. (OTCQX:UNIF), the holding company of UniBank, today announced that its Board of Directors declared a cash dividend of $0.10 per common share. The dividend is payable on or about April 21, 2023 to all stockholders of record as of the close of business on April 7, 2023.

"Although the banking industry is facing significant turbulence and uncertainty, I am very pleased that UniBank is well positioned for future growth, attributable to its strong capital and excellent credit quality as well as sufficient liquidity and solid earnings," said Peter Park, President and CEO. He added that, "to highlight the Company's financial position, the board has decided to continue paying the semi-annual dividend."

About UniBank

UniBank, the wholly-owned subsidiary of U & I Financial Corp. (OTCQX: UNIF), is one of the highest performing banks in Washington state in terms of return on assets. Founded in 2006 and based in Lynnwood, Washington, the Bank serves small to medium-sized businesses, professionals, and individuals across the United States with a particular emphasis on government guaranteed loan programs. Customers can access their accounts in any of the 4 branches - Lynnwood, Bellevue, Federal Way and Tacoma - online, or through the Bank's ATM network.

For more information visit www.unibankusa.com or call (425) 275-9700.

Forward-Looking Statement Safe Harbor: This news release contains comments or information that constitutes forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations that involve a number of risks and uncertainties. Forward-looking statements describe U & I Financial Corp.'s projections, estimates, plans and expectations of future results and can be identified by words such as "believe," "intend," "estimate," "likely," "anticipate," "expect," "looking forward," and other similar expressions. They are not guarantees of future performance. Actual results may differ materially from the results expressed in these forward-looking statements, which because of their forward-looking nature, are difficult to predict. Investors should not place undue reliance on any forward-looking statement, and should consider factors that might cause differences including but not limited to the degree of competition by traditional and nontraditional competitors, declines in real estate markets, an increase in unemployment or sustained high levels of unemployment; changes in interest rates; adverse changes in local, national and international economies; changes in the Federal Reserve's actions that affect monetary and fiscal policies; changes in legislative or regulatory actions or reform, including without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act; demand for products and services; changes to the quality of the loan portfolio and our ability to succeed in our problem-asset resolution efforts; the ongoing uncertainties from COVID-19; the impact of technological advances; changes in tax laws; and other risk factors. U & I Financial Corp. undertakes no obligation to publicly update or clarify any forward-looking statement to reflect the impact of events or circumstances that may arise after the date of this release.

Investor Relations

Simon Bai
(425) 275-9704

SOURCE: U & I Financial Corp. (Washington)

View source version on accesswire.com:
https://www.accesswire.com/746279/U-I-Financial-Corp-Declares-Cash-Dividend-of-010-Per-Share

FAQ

What is the dividend amount declared by U & I Financial Corp. for 2023?

The dividend amount declared is $0.10 per common share.

When is the dividend payable to shareholders of U & I Financial Corp.?

The dividend is payable on or about April 21, 2023.

What is the record date for U & I Financial Corp.'s dividend?

The record date is April 7, 2023.

How often does U & I Financial Corp. pay dividends?

U & I Financial Corp. pays dividends semi-annually.

What factors might impact U & I Financial Corp.'s future dividend payments?

Factors include competition, economic conditions, interest rates, and loan portfolio quality.