United Bankshares Rewards Shareholders with 2.9% Dividend Hike
Bank holding company United Bankshares, Inc. (UBSI) has announced a quarterly dividend of $0.36 per share, an increase of about 2.9% from the previous dividend of $0.35 per share.
Following the news, shares of the company declined marginally to close at $38.19 on Friday. The dividend will be paid on January 3, 2022, to shareholders of record as of December 2, 2021.
The company’s annual dividend of $1.44 per share now reflects a dividend yield of 3.8% based on Friday’s closing price.
Notably, this marks the company’s 48th consecutive year of quarterly dividend increase.
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Last month, Raymond James analyst William Wallace reiterated a Buy rating on the stock with a price target of $40 (4.7% upside potential). Overall, the stock has a Moderate Buy consensus rating based on 1 Buy.
United Bankshares scores a 6 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with market expectations. Shares have gained 28.1% over the past year.
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