United Bankshares, Inc. (NASDAQ:UBSI) has declared a quarterly dividend of $0.30 for its second quarter. This represents a 3% increase over the year ago period’s dividend of $0.29. The dividend will be payable to shareholders of record as of June 11, 2010 on July 1, 2010. The Dividend payout is totaled at $13.1 million on 43.5 million shares. The annualized dividend amount for 2010 is $1.20, equating to a yield of 4% based on recent market prices. United Bankshares has increased its dividend for 36 consecutive years.
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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. As of December 31, 2009, there were 69 bank holding companies operating in the State of West Virginia registered with the Federal Reserve System and the West Virginia Board of Banking and Financial Institutions.
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