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United Bancorp cuts quarterly dividend to 7c per share

On August 15, the Board of Directors of United Bancorp declared the third quarter dividend payment of 7c per share for shareholders of record on September 4, 2012 with a payment date of September 20, 2012. This declared dividend rate of 7c per share equates to a 50% reduction from the rate paid during the third quarter of last year and, provided a continuation of the new dividend rate during the 4th quarter of this year, would result in a total per share dividend for 2012 of 42c compared to the 56c paid in 2011. No determination has been made at this time regarding the payment of any future dividends of the Company.