United Bankshares Declares First Quarter Dividend
WASHINGTON & CHARLESTON, W. Va.--(BUSINESS WIRE)-- United Bankshares, Inc. (NASDAQ: UBSI) today announced that its Board of Directors declared a first quarter 2013 dividend of $0.31 per share for shareholders of record as of March 8, 2013.
The dividend payout of approximately $15.6 million on 50.3 million shares is payable April 1, 2013. The annualized 2013 dividend of $1.24 per share equates to a yield of approximately 5% based on recent UBSI market prices. The year of 2012 represented the thirty-ninth consecutive year of dividend increases for United shareholders. Only one other major banking company in the USA has achieved such a dividend record.
Recently, United announced the signing of a definitive merger agreement with Virginia Commerce Bancorp, Inc. ("VCBI"). The acquisition of VCBI will afford United the opportunity to significantly enhance its existing footprint in the Washington, D.C. Metropolitan Statistical Area. With the acquisition of VCBI, United's assets will grow to over $11 billion.
United currently has consolidated assets of approximately $8.4 billion with 115 full service offices in West Virginia, Virginia, Maryland, Ohio, Pennsylvania and Washington, D.C. United Bankshares stock is traded on the NASDAQ Global Select Market under the quotation symbol "UBSI".
United Bankshares, Inc.
Steven E. Wilson, 800-445-1347 ext. 8704
Chief Financial Officer
KEYWORDS: United States North America District of Columbia Ohio Virginia West Virginia
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