United Community Banks Increases Dividend and Share Repurchase
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United Community Banks, Inc. Announces Increased Quarterly Cash Dividend and Larger Share Repurchase Program
United Community Banks, Inc. (NYSE: UCB) has reported that its Board of Directors has approved a 4% increase in the quarterly cash dividend, raising it to $0.24 per share on the company’s common stock.
The Board has also authorized a significant increase in the company’s share repurchase program, now totaling $100 million for its outstanding common shares. The expiration of this authorization has been extended to December 31, 2025. The shares may be repurchased sporadically in open market transactions, privately negotiated transactions, or through other legally compliant means. Management will determine the actual timing, number, and value of repurchased shares based on a variety of factors that include the market price of the stock and general economic conditions.
Preferred Stock Dividend
The Board of Directors further approved a cash dividend of $429.6875 per share on the Company’s 6.875% Non-Cumulative Perpetual Preferred Stock, Series I (NYSE: UCB PRI).
About United Community Banks, Inc.
United Community Banks, Inc. (NYSE: UCB) serves as the financial holding company for United Community, a leading financial institution in the United States. The company is dedicated to enhancing the financial health of its customers and the communities it operates in, offering comprehensive banking, wealth management, and mortgage services. With $27.1 billion in assets and a network of 203 offices across several states, United Community is recognized as one of the best in customer service. It has received numerous accolades including awards for overall customer satisfaction among consumer banks and recognition as one of the World's Best Banks by Forbes.
Contact Information
For further inquiries, contact:
Jefferson Harralson
Chief Financial Officer
(864) 240-6208
Jefferson_Harralson@ucbi.com
Frequently Asked Questions
What is the new dividend amount announced by United Community Banks, Inc.?
The Board of Directors approved a 4% increase in the quarterly cash dividend, raising it to $0.24 per share.
What is the total amount of the share repurchase program?
The share repurchase program has been increased to $100 million for the company’s outstanding common shares.
When will the cash dividend on the preferred stock be payable?
The dividend on the preferred stock will be payable to shareholders of record on the specified date set by the Board of Directors.
How many offices does United Community Banks, Inc. have?
United Community Banks, Inc. operates 203 offices across multiple states in the U.S.
What recent awards has United Community received?
United Community has received several awards including recognition for customer satisfaction and has been named one of the Best Banks to Work For.
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