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37th Consecutive Year of Dividend Increases for United Bankshares

^{Published on 2010-11-22 12:55:16 - 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 $0.30 per share for shareholders of record as of December 10, 2010. Dividends per share of $1.20 for the year 2010 represents a 3% increase over the $1.17 per share paid for the year of 2009. The dividend payout of approximately $13.1 million on 43.6 million shares is payable January 3, 2011.

"We continue to be committed to rewarding our shareholders even in these most difficult of times"

The year 2010 marks the 37th consecutive year of dividend increases to United shareholders. During this 37 year period, the dividend has increased from $0.06 to $1.20, which represents an annual compound growth rate over 9%.

aWe continue to be committed to rewarding our shareholders even in these most difficult of times,a commented Richard M. Adams, Uniteda™s Chairman of the Board and Chief Executive Officer. aWhile we have been affected by the greatest challenges to our industry since the Great Depression, we continue to perform much better than most. Our ability to increase dividends to our shareholders over the past 37 years is evidence of our consistency of earnings, sound asset quality, and capital adequacy. Only one other major banking company in the USA has achieved such a record,a Adams stated.

United Bankshares, with $7.6 billion in assets, has 112 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 ]".

[ www.ubsi-inc.com ]