Union Bankshares Increases Cash Dividend by 10%

Apr 30, 2001, 01:00 ET from Union Bankshares Corporation

    BOWLING GREEN, Va., April 30 /PRNewswire/ -- The Board of Directors of
 Union Bankshares Corporation (Nasdaq: UBSH) has declared a semi-annual
 dividend of $.22 per share, a 10% increase from the semi-annual dividend paid
 December 1, 2000.  The dividend is payable on June 1, 2001 to shareholders of
 record as of May 17, 2001.
     The Company also announced that the Board of Directors had voted to renew
 the stock repurchase plan under which management is authorized to purchase up
 to 100,000 shares of the Company's common stock on the open market.  While the
 Company's management has not yet determined how many, if any, shares it might
 purchase subject to this authorization, it is anticipated that any repurchased
 shares will be used primarily for general corporate purposes, including the
 dividend reinvestment plan, incentive stock option plan and other employee
 benefit plans.  During 2000, the Company repurchased 30,300 shares in open
 market and block purchases at an average price of $10.78.
     Union Bankshares provides full service banking to the Central,
 Rappahannock, Williamsburg and Northern Neck regions of Virginia through its
 bank subsidiaries, Union Bank & Trust (18 locations in the counties of
 Caroline, Hanover, King George, King William, Spotsylvania, Stafford,
 Westmoreland and the City of Fredericksburg), Northern Neck State Bank (9
 locations in the counties of Richmond, Westmoreland, Essex, Northumberland and
 Lancaster), Rappahannock National Bank in Washington, Virginia and Bank of
 Williamsburg.  In addition, Union Investment Services, Inc. provides full
 brokerage services and Mortgage Capital Investors provides a full line of
 mortgage products.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X10954474
 
 

SOURCE Union Bankshares Corporation
    BOWLING GREEN, Va., April 30 /PRNewswire/ -- The Board of Directors of
 Union Bankshares Corporation (Nasdaq: UBSH) has declared a semi-annual
 dividend of $.22 per share, a 10% increase from the semi-annual dividend paid
 December 1, 2000.  The dividend is payable on June 1, 2001 to shareholders of
 record as of May 17, 2001.
     The Company also announced that the Board of Directors had voted to renew
 the stock repurchase plan under which management is authorized to purchase up
 to 100,000 shares of the Company's common stock on the open market.  While the
 Company's management has not yet determined how many, if any, shares it might
 purchase subject to this authorization, it is anticipated that any repurchased
 shares will be used primarily for general corporate purposes, including the
 dividend reinvestment plan, incentive stock option plan and other employee
 benefit plans.  During 2000, the Company repurchased 30,300 shares in open
 market and block purchases at an average price of $10.78.
     Union Bankshares provides full service banking to the Central,
 Rappahannock, Williamsburg and Northern Neck regions of Virginia through its
 bank subsidiaries, Union Bank & Trust (18 locations in the counties of
 Caroline, Hanover, King George, King William, Spotsylvania, Stafford,
 Westmoreland and the City of Fredericksburg), Northern Neck State Bank (9
 locations in the counties of Richmond, Westmoreland, Essex, Northumberland and
 Lancaster), Rappahannock National Bank in Washington, Virginia and Bank of
 Williamsburg.  In addition, Union Investment Services, Inc. provides full
 brokerage services and Mortgage Capital Investors provides a full line of
 mortgage products.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X10954474
 
 SOURCE  Union Bankshares Corporation