United Community Banks, Inc. Increases Quarterly Cash Dividend and Expands Share Repurchase Program
United Community Banks, Inc. (NYSE: UCB) has announced that its Board of Directors has approved a 4% increase in the quarterly cash dividend, bringing it up to $0.24 per share for the company’s common stock.
Additionally, the Board has authorized a substantial increase in the company’s share repurchase program, which now totals $100 million for its outstanding common shares. This authorization will remain in effect until December 31, 2025. Shares may be repurchased at various times through open market transactions, privately negotiated deals, or other legally compliant methods. Management will decide the timing, quantity, and value of repurchased shares based on several factors, including the stock's market price and overall economic conditions.
Preferred Stock Dividend
The Board of Directors has also 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) functions as the financial holding company for United Community, a prominent financial institution in the United States. The company is committed to improving the financial well-being of its customers and the communities it serves, providing a wide range of banking, wealth management, and mortgage services. With $27.1 billion in assets and a network of 203 offices across several states, United Community is well-regarded for its customer service. It has earned multiple 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 additional inquiries, please 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 has 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 date specified 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.
