First United Bancshares, Inc. increases quarterly cash dividend and declares 3-for-2 stock split.EL DORADO El Dorado, legendary country of South America El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America. , Ark.--(BUSINESS WIRE)--May 20, 1996--The board of directors of First United Bancshares, Inc. has declared a 3-for-2 stock split, to be paid in the form of a stock dividend, payable June 28, 1996 to shareholders of record as of June 7, 1996. Additionally, the board declared a $.255 quarterly cash dividend on pre-split shares payable June 28, 1996 to shareholders of record on June 7, 1996. This cash dividend represents a 16% increase over the previous quarterly rate of $.22 per share. "Both the higher cash dividend and stock split reflect our commitment to increasing shareholder value," stated James V James V, king of Scotland James V, 1512–42, king of Scotland (1513–42), son and successor of James IV. His mother, Margaret Tudor, held the regency until her marriage in 1514 to Archibald Douglas, 6th earl of Angus, when she lost it to John . Kelley, Chairman, President and Chief Executive Officer of First United. "Higher sustainable earnings in addition to favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. asset quality have allowed us to increase the total payout pay·out n. 1. The act or an instance of paying out. 2. A percentage of corporate earnings that is paid as dividends to shareholders. to our shareholders." First United, with $1.4 billion in assets, is a multi-bank holding company with 8 affiliate banks serving 22 communities in Arkansas and Texas. In addition, First United has signed a definitive agreement to acquire Carlisle Bancshares, Inc., a $105 million bank holding company with three subsidiary banks located in Carlisle, Ark., Brinkley, Ark. and Hazen, Ark. The stock is listed on the 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 National Market System under the symbol "UNTD." CONTACT: First United Bancshares, Inc., El Dorado John E. Burns, 501/863-3181 |
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