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UNITED FEDERAL BANCORP INCREASES QUARTERLY DIVIDEND

 STATE COLLEGE, Pa., Nov. 23 ~PRNewswire~ -- The board of directors of United Federal Bancorp (NASDAQ-NMS: UFBK) today announced a 21.4 percent increase in the quarterly per share dividend from $.14 to $.17, or $.59 on an annualized basis.
 At a current stock price of $18.50 per share, the new dividend represents a yield of 3.19 percent, well in excess of industry peers. The dividend is payable Dec. 31, 1992, to stockholders of record Dec. 15.
 Charles C. Pearson Jr., president and chief executive officer, stated, "This represents the fourth consecutive annual increase in United Federal's quarterly dividend. The company's outstanding performance in 1992, coupled with its superior capital position, has enabled us to significantly increase the cash dividend. We are delighted to reward our stockholders for their commitment to United Federal."
 United Federal Bancorp, Inc. is the holding company for United Federal Bank and UFB Financial, Inc. United Federal Bank conducts business from its headquarters in State College, and 18 full-service branches in central and southern Pennsylvania.
 -0- 11~23~92
 ~CONTACT: Charles C. Pearson Jr., chief executive officer, or Donald L. Gross, chief operating officer, of United Federal Bancorp, 814-231-1668~
 (UFBK)


CO: United Federal Bancorp, Inc. ST: Pennsylvania IN: FIN SU: DIV

LJ-EF -- PG019 -- 0706 11~23~92 15:54 EST
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Publication:PR Newswire
Date:Nov 23, 1992
Words:215
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