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 common share, payable on or about October 21, 2022, to shareholders of record by October 7, 2022. The decision to distribute dividends reflects the Bank's strong performance amidst economic uncertainties, according to President and CEO Peter Park, who anticipates dividends will continue semi-annually. UniBank, a wholly-owned subsidiary, is recognized for its high performance in Washington, focusing on government-backed loan programs.

Positive

• Declared a cash dividend of $0.10 per share, rewarding shareholders.
• Anticipates continued semi-annual dividends as a sign of confidence in the Bank's performance.

Negative

• None.

LYNNWOOD, WA / ACCESSWIRE / September 26, 2022 / 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 October 21, 2022 to all stockholders of record as of the close of business on October 7, 2022.

"Although we are cautious with our capital given the economic uncertainties, the Bank's performance has been very good this year, and the Board wanted to reward our shareholders with this dividend," said Peter Park, President and CEO. He added that, "at this moment, I expect the dividends to continue on a semi-annual basis."

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)

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FAQ

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

U & I Financial Corp. declared a cash dividend of $0.10 per common share.

When is the dividend payable to shareholders?

The dividend is payable on or about October 21, 2022.

What is the record date for the dividend?

The record date for the dividend is October 7, 2022.

Does U & I Financial Corp. plan to continue paying dividends?

Yes, U & I Financial Corp. expects to continue dividends on a semi-annual basis.

What is the significance of the dividend declaration for UNIF investors?

The dividend declaration indicates confidence in the Bank's performance and aims to reward shareholders.