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United Community Financial Corp. Declares Stock Dividend

^{Published on 2008-11-17 06:05:34 - Market Wire}
 

YOUNGSTOWN, Ohio--([ BUSINESS WIRE ])--United Community Financial Corp. (Nasdaq: UCFC) has declared a dividend of $0.095 (9.50 cents) per share, to be paid in shares of common stock on December 9, 2008 to shareholders of record on November 24, 2008.

"As previously disclosed, our ability to pay cash dividends is currently restricted," commented Chairman and Chief Executive Officer Douglas M. McKay. "However, a dividend is important to many of our shareholders, and we believe that our shareholders will find this stock dividend extremely helpful. Those who rely upon cash dividends can choose to sell the additional shares. Others will be able to realize an increased investment in UCFC at a time when our stock price is historically low."

Shareholders of record will receive shares of common stock equal to $0.095 cents per share, based upon the average of UCFC's closing price for the 20 trading day period ended November 12, 2008, which was $3.36. As a result, shareholders will receive 0.028 shares of common stock for each share held as of the record date. Shareholders will not receive fractional shares; rather, for the benefit of our shareholders, fractional share amounts will be rounded up to the nearest whole share.

United Community is the Holding Company for The Home Savings and Loan Company (Home Savings) and Butler Wick Corp. (Butler Wick), both headquartered in Youngstown, Ohio. Home Savings operates 39 full-service banking offices and six loan production offices located throughout Ohio and Western Pennsylvania. Butler Wick has 23 offices providing full service retail brokerage, capital markets or trust services throughout Ohio, Western Pennsylvania and New York. Additional information on the Company, Home Savings and Butler Wick may be found on the Company's web site: [ www.ucfconline.com ].