MARTINS FERRY, Ohio, Nov. 26, 2018 /PRNewswire/ -- On November 21, 2018, the Board of Directors of United Bancorp, Inc. (UBCP) declared a fourth quarter cash dividend of $0.13, which is payable on December 20, 2018, to shareholders of record on December 10, 2018. At this level, the regular cash dividend produces a forward yield of 3.95% based on the market value at the most recent quarter end and represents an increase during the current year of $0.06, or 13.04%, over the regular cash dividend payout in 2017.
In addition to this regular cash dividend payment, the Board of Directors of United Bancorp, Inc. also approved a special dividend of $0.05 per common share, which will be payable on December 28, 2018, to shareholders of record on December 10, 2018. The United Bancorp, Inc. Board of Directors approved this special cash dividend based on the Company's solid earnings and strong capital position. With the regular cash dividend and this special dividend payout, United Bancorp, Inc. will pay total cash dividends of $0.57 per common share in 2018.
As previously announced, United Bancorp did successfully close on the purchase of Powhatan Point Community Bancshares (PPCB) during this most recent quarter. The effective date of this acquisition was October 15, 2018. Both the Board of Directors and Management of United Bancorp welcome all of our new shareholders from this successful merger to the United Bancorp Family and look forward to them receiving, for the first time, our above-peer cash dividend payout!
United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and has total assets of $525.3 million and total shareholder's equity of $45.1 million as of September 30, 2018. Through its single bank charter, Unified Bank, the Company has nineteen banking offices that serve the Ohio Counties of Athens, Belmont, Carroll, Fairfield, Harrison, Jefferson and Tuscarawas. The Company also operates a Loan Production Office in Wheeling, WV. United Bancorp, Inc. is a part of the Russell Microcap Index and trades on the NASDAQ Capital Market tier of the NASDAQ Stock Market under the symbol UBCP, Cusip #909911109.
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