United Bankshares, Inc. (NASDAQ:UBSI) has declared a first quarter dividend of $0.30 per share. The dividend is payable to shareholders of record as of March 12, 2010 on April 1, 2010. This marks a 3% increase compared to the year ago period’s dividend of $0.29 per share. The payout will be approximately $13 million on 43.4 million shares. The annualized dividend is $1.20, equating to a yield of 5% based on recent UBSI market prices. The $1.17 per share dividend of 2009 represents the company’s 36th consecutive year of dividend increases for its shareholders.
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United Bankshares, Inc. (United) is a bank holding company. The Bank has two banking subsidiaries (the Banking Subsidiaries) doing business under the name of United Bank, operating United Bank (WV) and United Bank (VA). United’s Banking Subsidiaries offer a range of commercial and retail banking services and products. United also owns non-bank subsidiaries, which engage in other community banking services, such as asset management, real property title insurance, investment banking, financial planning and brokerage services. United generally originates loans within the primary market area of its banking subsidiaries. United also makes loans to borrowers and/or on properties outside of its primary market area as an accommodation to its customers.
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