N@N

35th Consecutive Year of Dividend Increases for United Bankshares

^{Published on 2008-11-24 13:33:33 - Market Wire}
 

WASHINGTON & CHARLESTON, W.Va.--([ BUSINESS WIRE ])--United Bankshares, Inc. (NASDAQ:UBSI) today announced that its Board of Directors declared a fourth quarter dividend of $0.29 per share for shareholders of record as of December 12, 2008. Dividends per share of $1.16 for the year 2008 represents an increase of approximately 3% over the $1.13 per share paid for 2007.

The dividend payout of approximately $12.6 million on 43.3 million shares is payable January 2, 2009. While many banking companies have reduced or suspended dividends recently, the year 2008 marks the 35th consecutive year of dividend increases to United shareholders. During this time period, the dividend has increased from $0.06 to $1.16, which represents an annual compound growth rate over 9%.

United Bankshares, with $8.1 billion in assets, has 114 full-service offices in West Virginia, Virginia, Maryland, Ohio, and Washington, D.C. United Bankshares stock is traded on the NASDAQ Global Select Market under the quotation symbol "UBSI".