FRESNO, Calif., March 30, 2017 /PRNewswire/ -- Dennis R. Woods, President and Chief Executive Officer of United Security Bancshares (http://www.unitedsecuritybank.com/) (Nasdaq: UBFO), reported that the Board of Directors of United Security Bancshares declared a 1st quarter 2017 stock dividend of one percent (1%) on March 28, 2017. The stock dividend will be paid to shareholders of record on April 7, 2017 and the dividend shares will be issued on April 17, 2017.
This marks the 34th consecutive quarterly stock dividend since initiated in 2008. Capital preservation remains a significant focus of the Bank's Directors in consideration of the Basel III capital standards adopted. Stock dividends preserve capital, where as cash dividends reduce capital.
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SOURCE United Security Bancshares