United Bankshares Declares Dividend and Announces New Stock Repurchase Program
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.
The timing, price and quantity of purchases under the stock repurchase plan will be at the discretion of management and the plan
may be discontinued, suspended or restarted at any time depending on the facts and circumstances. United’s management feels the
stock repurchase plan, depending upon market and business conditions, will provide capital management opportunities and build value
for the Company’s shareholders.
United Bankshares, with $19.0 billion in assets, has 144 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.
W. Mark Tatterson, 800-445-1347 ext. 8716
Chief Financial Officer
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