Unity Bancorp Declares Cash Dividend

Rhea-AI Summary

Unity Bancorp, Inc. (NASDAQ: UNTY) has declared a cash dividend of $0.09 per share, scheduled for payment on June 25, 2021, to shareholders of record as of June 11, 2021. The company, headquartered in Clinton, NJ, manages approximately $2.0 billion in assets and $1.6 billion in deposits. Its wholly-owned subsidiary, Unity Bank, serves retail and corporate clients across 19 locations in New Jersey and Pennsylvania. This dividend reflects the company’s ongoing commitment to returning value to its shareholders.

Positive

• Declared a cash dividend of $0.09 per share.
• Dividend payment reflects commitment to shareholder value.
• Strong asset base of approximately $2.0 billion.

Negative

• Risks related to general economic conditions and trends in interest rates.
• Potential impact of COVID-19 on operations and customer relations.

CLINTON, N.J., May 27, 2021 (GLOBE NEWSWIRE) -- Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, announced that its Board of Directors has declared a cash dividend of $0.09 per common share. Such dividend is payable on June 25, 2021, to shareholders of record as of June 11, 2021.

Unity Bancorp, Inc. is a financial service organization headquartered in Clinton, New Jersey, with approximately $2.0 billion in assets and $1.6 billion in deposits. Unity Bank, the company’s wholly owned subsidiary, provides financial services to retail, corporate and small business customers through its 19 retail service centers located in Bergen, Hunterdon, Middlesex, Somerset, Union and Warren Counties in New Jersey and Northampton County, Pennsylvania. For additional information about Unity, visit our website at www.unitybank.com, or call 800-618-BANK.

This news release contains certain forward-looking statements, either expressed or implied, which are provided to assist the reader in understanding anticipated future financial performance. These statements may be identified by use of the words “believe”, “expect”, “intend”, “anticipate”, “estimate”, “project” or similar expressions. These statements involve certain risks, uncertainties, estimates and assumptions made by management, which are subject to factors beyond the company’s control and could impede its ability to achieve these goals. These factors include those items included in our Annual Report on Form 10-K under the heading “Item IA-Risk Factors” as amended or supplemented by our subsequent filings with the SEC, as well as general economic conditions, trends in interest rates, the ability of our borrowers to repay their loans, our ability to manage and reduce the level of our nonperforming assets, and results of regulatory exams, and the impact of COVID-19 on the Bank, its employees and customers, among other factors.

News Media & Financial Analyst Contact:
George Boyan
EVP & Chief Financial Officer
(908) 713-4565

FAQ

What is the dividend amount declared by Unity Bancorp for June 2021?

Unity Bancorp declared a cash dividend of $0.09 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on June 25, 2021.

What is the record date for the dividend payment?

The record date for the dividend is June 11, 2021.

How does Unity Bancorp's asset size compare within the industry?

Unity Bancorp has approximately $2.0 billion in assets, indicating a solid financial position.

What factors could impact Unity Bancorp’s future performance?

Factors include economic conditions, interest rate trends, and the impact of COVID-19.