MARTINS FERRY, OH - United Bancorp, Inc. (NASDAQ:UBCP), an Ohio-based bank holding company, has announced an increase in its quarterly dividend. The Board of Directors declared a dividend of $0.175 per share, which marks a 6.1% increase from the dividend paid in the same quarter of the previous year. Shareholders on record as of June 10, 2024, will be eligible for the dividend, which is scheduled for payment on June 20, 2024.
The latest dividend increase contributes to a total cash dividend of $0.4975 per share paid in the first half of the current year, including a special dividend of $0.15 in the first quarter. Based on United Bancorp's quarter-end market value of $14.47, the regular cash dividend now yields 4.84%.
At the annual meeting held on Tuesday, shareholders re-elected the company's Board of Directors for the upcoming year. The board includes Scott A. Everson, the current President and CEO; Gary W. Glessner, CPA; Brian M. Hendershot; John M. Hoopingarner; Richard L. Riesbeck, who also serves as the Chairman of the UBCP Board; and Bethany E. Schunn.
United Bancorp, operating through its subsidiary Unified Bank, reported total assets of $819.4 million and total shareholder's equity of $63.6 million as of December 31, 2023.
The bank operates eighteen offices across several Ohio counties and extends into Marshall County in West Virginia.
The information provided in this article is based on a press release statement from United Bancorp, Inc.
InvestingPro Insights
Following United Bancorp, Inc.'s (NASDAQ:UBCP) announcement of an increased quarterly dividend, investors might be interested in the company's broader financial picture and performance metrics. According to real-time data from InvestingPro, United Bancorp maintains a market capitalization of $75.28 million, with a P/E ratio of 8.41. This indicates that the company is trading at a multiple that is relatively low compared to its earnings, which can be appealing for value-oriented investors.
The company's commitment to shareholder returns is further underscored by its consistent dividend history. An InvestingPro Tip notes that United Bancorp has raised its dividend for four consecutive years and has maintained dividend payments for an impressive 32 consecutive years. Additionally, the dividend yield as of the latest data stands at a substantial 7.86%, which is significantly higher than the yield mentioned in the article, potentially offering an attractive income stream for investors.
Moreover, recent performance data shows a notable 30.44% price total return over the last six months, signaling a robust uptick in the company's share price. This could reflect investor confidence in United Bancorp's operations and future outlook, especially considering the company's profitability over the last twelve months, as highlighted by another InvestingPro Tip.
To gain more insights and access additional InvestingPro Tips for United Bancorp, which include predictions on profitability and analysis of the company's gross profit margins, investors can visit InvestingPro. There are currently 8 additional tips available, providing a deeper dive into the company's financial health and future prospects. For those looking to subscribe to InvestingPro, be sure to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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