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United Bankshares, Inc. Buyback

OLI recorded this information on 8/28/2017

Company: United Bankshares, Inc.
Buyback: UBSI buyback
Share Amount Authorized: 2,000,000
Buyback Details: United Bankshares, Inc. (NASDAQ:UBSI), announced that at its August 28, 2017 board meeting, the Board of Directors declared a third quarter dividend of $0.33 per share for shareholders of record as of September 8, 2017. The dividend payout of approximately $34.6 million on 105.0 million shares is payable October 2, 2017. United has increased its dividend to shareholders for 43 consecutive years. Only one other major banking company in the USA has achieved such a dividend record. At the August 28, 2017 board meeting, the Board of Directors also approved a new plan to repurchase, on the open market at prevailing prices, up to 2 million of the issued and outstanding shares of United's common stock. The new plan replaces the prior repurchase plan approved by United's Board of Directors in May of 2006.

United Bankshares is a financial holding company. Through its banking subsidiary, United Bank, Co. provides a range of commercial and retail banking services and products. Co. also owns nonbank subsidiaries which engage in other community banking services such as asset management, real property title insurance, financial planning, mortgage banking, and brokerage services. Co., through its subsidiaries, engages primarily in community banking and mortgage banking, including the acceptance of deposits in checking, savings, time and money market accounts; the making and servicing of personal, commercial, and floor plan loans; and the making of construction and real estate loans.

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Company Name: 
United Bankshares Inc
Stock buyback: 
UBSI buyback
Banking & Savings
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Hold (2.00 out of 4)
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