Union First Market Bankshares Declares Quarterly Cash Dividend

Feb 01, 2013, 08:30 ET from Union First Market Bankshares Corporation

RICHMOND, Va., Feb. 1, 2013 /PRNewswire/ -- Union First Market Bankshares Corporation has declared a quarterly dividend of $0.13 per share.  The dividend amount represents an 8% increase over the previous quarterly dividend rate, and an 86% increase over the dividend rate for the same quarter last year.

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Fourth quarter net income available to common shareholders was $9.4 million or $0.37 per fully diluted share, compared to $9.6 million or $0.37 per share, in the third quarter and $7.3 million or $0.28 per share, for the fourth quarter last year.  Net income available to common shareholders in the prior year included a deduction for preferred stock dividends and discount accretion.

Based on the stock's closing price of $17.48 on January 31, 2013, the dividend yield is approximately 3.0%.  The dividend is payable on March 1, 2013 to shareholders of record as of February 15, 2013.


Headquartered in Richmond, Virginia, Union First Market Bankshares Corporation (NASDAQ: UBSH) is the holding company for Union First Market Bank, which has 90 branches and more than 150 ATMs throughout Virginia.  Non-bank affiliates of the holding company include: Union Investment Services, Inc., which provides full brokerage services; Union Mortgage Group, Inc., which provides a full line of mortgage products; and Union Insurance Group, LLC, which offers various lines of insurance products.  Union First Market Bank also owns a non-controlling interest in Johnson Mortgage Company, L.L.C. 

Additional information on the Company is available at http://investors.bankatunion.com

SOURCE Union First Market Bankshares Corporation