MARTINS FERRY, Ohio, Nov. 15, 2012 /PRNewswire/ -- On November 14, 2012, the Board of Directors of United Bancorp, Inc. (UBCP) declared the fourth quarter dividend payment of $0.07 per share for shareholders of record on November 26, 2012 with a payment date of December 20, 2012. This cash dividend amount of $0.07 per share equals the amount paid last quarter and will result in a total per share cash dividend for 2012 of $0.42 compared to the $0.56 paid in 2011. James W. Everson, Chairman, President and CEO stated, "A weak economic recovery, the continuation of a zero rate monetary policy and the cumulative impact of government regulatory policies reducing our fee income opportunities and increasing our compliance expenses collectively have led to our earnings performance being significantly impacted as reported to the media and on our web site in our September 30th Earnings Release. Our original budget forecasts did not anticipate the continuation of this zero-based monetary policy. On this basis, we continued to reward our shareholders with a high yielding dividend payment until last quarter when we reduced our cash dividend payment by 50%. This action was taken with much consideration after it became apparent there would not be a normalization of interest rates as we originally anticipated due to continuing changes in the policy of the Federal Reserve. Today, we are impacting earnings by holding 20% of our assets in liquid low yielding funds and are not taking undue market risk by extending investment maturities for return until we gain a better understanding of our economy's direction. We continue to aggressively and selectively make loans in the markets that we serve and consider this to be our only prudent and viable opportunity to generate an acceptable yield. This short term pain will lead to long term gain as interest rates begin to recover which will lead to increased dividend payments. Your Board of Directors and Management Team are taking both necessary and prudent action to manage the 'G' risk of banking to assure long term growth of shareholder value as we continue to travel through these uncharted waters of continuing and impending regulatory reform and unprecedented low interest rate policy."