Union First Market Bankshares Declares Quarterly Cash Dividend

Jul 25, 2013, 16:01 ET from Union First Market Bankshares Corporation

RICHMOND, Va., July 25, 2013 /PRNewswire/ -- Union First Market Bankshares Corporation has declared a quarterly dividend of $0.14 per share.  The dividend amount is a $0.01 per share, or 8% increase from the previous quarterly dividend rate and is a 40% increase over the dividend rate for the same quarter last year.  

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Second quarter reported net income was $9.5 million or $0.38 per fully diluted share, and includes after tax expenses of $919,000 related to the acquisition of StellarOne Corporation, compared to $9.0 million or $0.36 per share in the first quarter and $8.4 million or $0.32 per share in the second quarter last year.

Based on the stock's closing price of $22.67 on July 24, 2013, the dividend yield is approximately 2.5%.  The dividend is payable on August 30, 2013 to shareholders of record as of August 16, 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