OAKLAND, Md., March 8, 2018 /PRNewswire/ -- First United Corporation (NASDAQ: FUNC), the parent company of First United Bank & Trust, announces that its board of directors has declared a cash dividend of $.09 per common share. The dividend will be paid on May 2, 2018 to shareholders of record as of April 16, 2018.
According to Carissa L. Rodeheaver, Chairman of the Board, President and Chief Executive Officer, "The Board of Directors and the management team are pleased to resume payment of our common stock dividend to our loyal and dedicated shareholder base. As our income and financial position has improved, we are anxious to increase the return on investment for our shareholders through the payment of a dividend. It is our intention to maintain the dividend at this level for the foreseeable future provided that our financial position continues to support its payment. We sincerely thank our shareholders for their support and look forward to continued growth in First United Corporation."
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements do not represent historical facts, but are statements about management's beliefs, plans and objectives about the future, as well as its assumptions and judgments concerning such beliefs, plans and objectives. These statements are evidenced by terms such as "anticipate," "estimate," "should," "expect," "believe," "intend," and similar expressions. Although these statements reflect management's good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports that First United Corporation files with the Securities and Exchange Commission entitled "Risk Factors".
About First United Corporation
First United Corporation operates one full-service commercial bank, First United Bank & Trust. The Bank has a network of community offices in Garrett, Allegany, Washington, and Frederick Counties in Maryland, as well as Mineral, Berkeley, Monongalia and Harrison counties in West Virginia. First United's website can be located at www.mybank.com. As of December 31, 2017, the Corporation posted assets of $1.3 billion.
SOURCE First United Corporation