United Bankshares, Inc. (NASDAQ:
) today announced that its Board of Directors declared a first quarter 2014 dividend of $0.32 per share for shareholders of record as of March 14, 2014.
The dividend payout of approximately $22.0 million on 68.8 million shares is payable April 1, 2014. The annualized 2014 dividend of $1.28 per share equates to a yield of approximately 4.5% based on recent UBSI market prices. The year of 2013 represented the 40th consecutive year of dividend increases for United shareholders. Only one other major banking company in the USA has achieved such a dividend record.
Recently, United completed its acquisition of Virginia Commerce Bancorp, Inc. (“Virginia Commerce”). The acquisition of Virginia Commerce significantly enhances United’s existing footprint in the Washington, D.C. Metropolitan Statistical Area.
United now has consolidated assets over $11.5 billion with 133 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 "