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United Bankshares Declares Dividend and Announces New Stock Repurchase Program
WASHINGTON, D.C. and CHARLESTON, WV--United Bankshares, Inc. (NASDAQ: UBSI), announced that at its August 28, 2017 board meeting, the Board of Directors declared a third quarter dividend of $0.33 per share for shareholders of record as of September 8, 2017. The dividend payout of approximately $34.6 million on 105.0 million shares is payable October 2, 2017. United has increased its dividend to shareholders for 43 consecutive years. Only one other major banking company in the USA has achieved such a dividend record.
At the August 28, 2017 board meeting, the Board of Directors also approved a new plan to repurchase, on the open market at prevailing prices, up to 2 million of the issued and outstanding shares of United’s common stock. The new plan replaces the prior repurchase plan approved by United’s Board of Directors in May of 2006.
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