32nd Consecutive Year of Dividend Increases for United Bankshares.WASHINGTON & CHARLESTON, W.Va. -- United Bankshares, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : UBSI) today announced that its Board of Directors declared a fourth quarter dividend of 27(cents) per share for shareholders of record as of December 9, 2005. Dividends per share Dividends per share Dividend paid for the past 12 months divided by the number of common shares outstanding, as reported by a company. The number of shares often is determined by a weighted average of shares outstanding over the reporting term. of $1.05 for the year 2005 represents a 3% increase over the $1.02 per share paid for 2004. The dividend payout of approximately $11.4 million on 42.1 million shares is payable January 3, 2006. The year 2005 is the 32nd consecutive year of dividend increases to United shareholders. During this time period, the dividend has increased from 6(cents) to $1.05, which represents an annual compound growth rate of 10%. The annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. fourth quarter 2005 dividend of $1.08 equates to a yield of approximately 3% based on recent UBSI market prices. United previously reported record earnings per share for the third quarter and first nine months of 2005. Diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of were 59(cents) for the third quarter of 2005, which represented a 5% increase from diluted earnings per share of 56(cents) for the third quarter of 2004. United generated net income of $25.4 million for the third quarter of 2005 as compared to $24.5 million earned in the third quarter of 2004. Diluted earnings per share were $1.73 for the first nine months of 2005, which was also a 5% increase from diluted earnings per share of $1.64 for the first nine months of 2004. Net income for the first nine months of 2005 totaled $74.7 million as compared to $72.3 million for the prior year's first nine months. United Bankshares, with $6.6 billion in assets, has 90 full-service offices in West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. , Virginia, Maryland, Ohio, and Washington, D.C. United Bankshares stock is traded on the NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. System under the quotation symbol "UBSI". |
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