RICHMOND, Va., July 27, 2012 /PRNewswire/ -- Union First Market Bankshares Corporation (NASDAQ: UBSH) has declared a quarterly dividend of $0.10 per share. The dividend amount is a two cent, or 25%, increase from the prior quarter dividend.
Second quarter net income available to common shareholders was $8.42 million or $0.32 per fully diluted share, compared to $7.92 million or $0.31 per share, in the first quarter and $6.29 million or $0.24 per share, for the second quarter last year. Net income available to common shareholders in the prior year included a deduction for preferred stock dividends and discount accretion.
Based on the stock's closing price of $15.22 on July 17, 2012, the dividend yield is 2.63%. The dividend is payable on August 30, 2012 to shareholders of record as of August 18, 2012.
ABOUT UNION FIRST MARKET BANKSHARES CORPORATION
Headquartered in Richmond, Virginia, Union First Market Bankshares Corporation (NASDAQ: UBSH) is the holding company for Union First Market Bank, which has 94 branches and more than 150 ATMs throughout Virginia. Non-bank affiliates of the holding company include: Union Investment Services, Inc., which provides full brokerage services; Union Mortgage Group, Inc., which provides a full line of mortgage products; and Union Insurance Group, LLC, which offers various lines of insurance products. Union First Market Bank also owns a non-controlling interest in Johnson Mortgage Company, L.L.C.
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